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Radiant Creations fiscal Q1 loss narrows YOY

Radiant Creations Group Inc. said its normalized net income for the fiscal first quarter ended May 31 amounted to a loss of $4.07 per share, compared with a loss of $27.31 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 $570,540, compared with a loss of $1.2 million in the year-earlier period.

Total revenue fell 96.4% year over year to $20,440 from $566,090, and total operating expenses fell 77.9% year over year to $519,870 from $2.3 million.

Reported net income totaled a loss of $956,310, or a loss of $6.81 per share, compared to a loss of $1.9 million, or a loss of $43.70 per share, in the year-earlier period.