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Radient Technologies fiscal Q1 loss widens YOY

Radient Technologies Inc. said its normalized net income for the fiscal first quarter ended June 30 was a loss of 29 Canadian cents per share, compared with a loss of C$2.61 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$1.5 million, compared with a loss of C$587,430 in the year-earlier period.

Total revenue rose on an annual basis to C$43,500 from C$17,850, and total operating expenses grew on an annual basis to C$2.0 million from C$957,220.

Reported net income came to a loss of C$3.6 million, or a loss of 68 cents per share, compared to a loss of C$939,890, or a loss of C$4.17 per share, in the year-earlier period.