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Optiva swings to loss in fiscal Q1

Optiva Inc. said its normalized net income for the fiscal first quarter ended Dec. 31, 2015, amounted to a loss of 8 cents per share, compared with the S&P Capital IQ consensus estimate of $1.25 per share.

The per-share result swung to a loss from the prior-year profit of $1.17.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $164,300, compared with income of $2.6 million in the year-earlier period.

The normalized profit margin fell to negative 0.3% from 4.2% in the year-earlier period.

Total revenue fell 19.9% year over year to $50.1 million from $62.6 million, and total operating expenses declined 10.9% on an annual basis to $48.8 million from $54.8 million.

Reported net income totaled a loss of $4.4 million, or a loss of $2.00 per share, compared to income of $2.2 million, or 92 cents per share, in the year-earlier period.