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Vuzix Q3 loss widens YOY

Vuzix Corp. said its normalized net income for the third quarter was a loss of 18 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 19 cents per share.

The per-share loss grew 91.2% year over year from 10 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $3.1 million, compared with a loss of $1.5 million in the prior-year period.

Total revenue declined 40.0% on an annual basis to $582,550 from $970,380, and total operating expenses increased 61.5% on an annual basis to $5.3 million from $3.3 million.

Reported net income came to a loss of $5.4 million, or a loss of 32 cents per share, compared to a loss of $2.8 million, or a loss of 18 cents per share, in the prior-year period.