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Gilla Q4 loss widens 93.3% YOY

Gilla Inc. said its fourth-quarter normalized net income came to a loss of $730,860, compared with a loss of $378,190 in the prior-year period.

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

The normalized profit margin was 215.7%.

Total revenue grew on an annual basis to $338,850 from $37,010, and total operating expenses rose on an annual basis to $1.4 million from $531,320.

Reported net income totaled a loss of $1.3 million, or a loss of 1 cents per share, compared to a loss of $281,790, or a loss of 0 cents per share, in the year-earlier period.

For the year, the company's normalized net income totaled a loss of 2 cents per share, compared with a loss of 3 cents per share in the prior year.

Normalized net income was a loss of $1.8 million, compared with a loss of $2.0 million in the prior year.

Full-year total revenue increased 91.3% on an annual basis to $1.2 million from $608,040, and total operating expenses rose 33.3% year over year to $3.6 million from $2.7 million.

The company said reported net income came to a loss of $3.0 million, or a loss of 3 cents per share, in the full year, compared with a loss of $3.1 million, or a loss of 4 cents per share, the prior year.