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Communications Systems Q1 loss widens 25.6% YOY

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Communications Systems Q1 loss widens 25.6% YOY

Communications Systems Inc. said its normalized net income for the first quarter was a loss of 50 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 29 cents per share.

The per-share loss widened 22.8% year over year from 41 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $4.4 million, compared with a loss of $3.5 million in the year-earlier period.

The normalized profit margin climbed to negative 18.0% from negative 18.0% in the year-earlier period.

Total revenue climbed 26.2% year over year to $24.7 million from $19.5 million, and total operating expenses grew 9.1% year over year to $27.5 million from $25.2 million.

Reported net income came to a loss of $2.5 million, or a loss of 28 cents per share, compared to a loss of $4.2 million, or a loss of 48 cents per share, in the year-earlier period.