Big Rock Brewery Inc. said its normalized net income for the first quarter came to a loss of 8 Canadian cents per share, compared with a loss of 4 cents per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of C$521,880, compared with a loss of C$230,000 in the year-earlier period.
The normalized profit margin fell to negative 7.3% from negative 3.2% in the year-earlier period.
Total revenue decreased year over year to C$7.1 million from C$7.1 million, and total operating expenses increased on an annual basis to C$7.9 million from C$7.6 million.
Reported net income came to a loss of C$618,830, or a loss of 9 cents per share, compared to a loss of C$303,510, or a loss of 5 cents per share, in the year-earlier period.
