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Blackline Safety fiscal Q1 loss widens 62.9% YOY

Blackline Safety Corp. said its normalized net income for the fiscal first quarter ended Jan. 31 was a loss of 3 Canadian cents per share, compared with a loss of 2 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of C$836,810, compared with a loss of C$513,700 in the year-earlier period.

The normalized profit margin fell to negative 40.6% from negative 30.2% in the year-earlier period.

Total revenue grew 21.3% on an annual basis to C$2.1 million from C$1.7 million, and total operating expenses increased 35.1% on an annual basis to C$3.4 million from C$2.5 million.

Reported net income totaled a loss of C$1.3 million, or a loss of 5 cents per share, compared to a loss of C$821,910, or a loss of 4 cents per share, in the prior-year period.