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Intermolecular Q1 loss narrows YOY

Intermolecular Inc. said its first-quarter normalized net income was a loss of 2 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 5 cents per share.

The per-share loss decreased 76.8% year over year from 9 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $1.0 million, compared with a loss of $4.4 million in the prior-year period.

The normalized profit margin climbed to negative 7.2% from negative 44.4% in the year-earlier period.

Total revenue increased 47.5% on an annual basis to $14.5 million from $9.8 million, and total operating expenses fell from the prior-year period to $16.2 million from $16.7 million.

Reported net income totaled a loss of $1.7 million, or a loss of 3 cents per share, compared to a loss of $7.0 million, or a loss of 15 cents per share, in the prior-year period.