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TWC Enterprises Q1 loss narrows YOY


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Fintech Intelligence Newsletter: February 2021

TWC Enterprises Q1 loss narrows YOY

TWC Enterprises Ltd. said its normalized net income for the first quarter amounted to a loss of 20 Canadian cents per share, compared with a loss of 24 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$5.4 million, compared with a loss of C$6.6 million in the year-earlier period.

The normalized profit margin climbed to negative 20.3% from negative 25.6% in the year-earlier period.

Total revenue rose 5.9% year over year to C$27.4 million from C$25.8 million, and total operating expenses increased 5.4% from the prior-year period to C$31.5 million from C$29.9 million.

Reported net income came to a loss of C$5.7 million, or a loss of 21 cents per share, compared to a loss of C$7.4 million, or a loss of 27 cents per share, in the year-earlier period.