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MGT Capital Investments Q1 loss widens 20.6% YOY

MGT Capital Investments Inc. said its normalized net income for the first quarter was a loss of 7 cents per share, compared with a loss of 7 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $776,130, compared with a loss of $643,750 in the prior-year period.

Total revenue increased on an annual basis to $217,000 from $85,000, and total operating expenses climbed 12.0% from the prior-year period to $1.6 million from $1.4 million.

Reported net income totaled a loss of $1.3 million, or a loss of 11 cents per share, compared to a loss of $1.1 million, or a loss of 13 cents per share, in the year-earlier period.