BioNeutra Global Corp. said its first-quarter normalized net income came to a loss of C$388,770, compared with income of C$553,760 in the prior-year period.

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

The normalized profit margin declined to negative 8.5% from 10.4% in the year-earlier period.

Total revenue declined 14.2% on an annual basis to C$4.6 million from C$5.3 million, and total operating expenses fell 23.1% year over year to C$3.4 million from C$4.5 million.

Reported net income came to a loss of C$919,000, or a loss of 2 cents per share, compared to income of C$403,750, or 1 cents per share, in the prior-year period.