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RESAAS Services Q1 loss narrows YOY

RESAAS Services Inc. said its normalized net income for the first quarter came to a loss of 2 Canadian cents per share, compared with a loss of 3 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$595,660, compared with a loss of C$894,650 in the prior-year period.

Total revenue rose on an annual basis to C$98,380 from C$41,050, and total operating expenses decreased 30.1% from the prior-year period to C$1.0 million from C$1.5 million.

Reported net income totaled a loss of C$953,050, or a loss of 3 cents per share, compared to a loss of C$1.4 million, or a loss of 4 cents per share, in the year-earlier period.