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Wave Sync Q1 loss widens 14.6% YOY

Wave Sync Corp. said its normalized net income for the first quarter came to a loss of $143,150, compared with a loss of $124,880 in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

Total revenue came to $3,000, and total operating expenses increased 15.9% from the prior-year period to $231,690 from $199,830.

Reported net income totaled a loss of $199,200, or a loss of 1 cents per share, compared to a loss of $195,830, or a loss of 1 cents per share, in the year-earlier period.