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Glowpoint Q1 loss widens YOY

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Glowpoint Q1 loss widens YOY

Glowpoint Inc. said its normalized net income for the first quarter came to a loss of $421,880, compared with a loss of $68,130 in the prior-year period.

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

The normalized profit margin fell to negative 7.6% from negative 1.0% in the year-earlier period.

Total revenue declined 23.0% on an annual basis to $5.5 million from $7.2 million, and total operating expenses declined 15.9% from the prior-year period to $5.8 million from $6.9 million.

Reported net income came to a loss of $709,120, or a loss of 2 cents per share, compared to a loss of $354,820, or a loss of 1 cents per share, in the year-earlier period.