Gilla Inc. said its normalized net income for the third quarter amounted to a loss of $436,130, compared with a loss of $810,400 in the year-earlier period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
The normalized profit margin increased to negative 53.2% from negative 154.1% in the year-earlier period.
Total revenue increased 55.3% on an annual basis to $816,610 from $525,890, and total operating expenses grew 19.4% on an annual basis to $1.3 million from $1.1 million.
Reported net income totaled a loss of $697,810, or a loss of 1 cents per share, compared to a loss of $1.6 million, or a loss of 2 cents per share, in the prior-year period.