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Spot Coffee Q1 loss narrows YOY

Spot Coffee (Canada) Ltd. said its first-quarter normalized net income was a loss of C$285,690, compared with a loss of C$369,550 in the prior-year period.

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

The normalized profit margin climbed to negative 14.6% from negative 20.4% in the year-earlier period.

Total revenue climbed 8.0% on an annual basis to C$2.0 million from C$1.8 million, and total operating expenses totaled C$2.3 million, compared with C$2.3 million in the prior-year period.

Reported net income totaled a loss of C$469,520, or a loss of 1 cents per share, compared to a loss of C$607,380, or a loss of 1 cents per share, in the prior-year period.