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Memex fiscal Q2 loss widens 93.7% YOY

Memex Inc. said its normalized net income for the fiscal second quarter ended March 31 amounted to a loss of C$619,440, compared with a loss of C$319,790 in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin dropped to negative 108.4% from negative 79.6% in the year-earlier period.

Total revenue increased 42.2% year over year to C$571,300 from C$401,750, and total operating expenses rose 65.5% from the prior-year period to C$1.5 million from C$920,210.

Reported net income totaled a loss of C$991,100, or a loss of 1 cents per share, compared to a loss of C$511,670, or a loss of 1 cents per share, in the prior-year period.