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Fireswirl Technologies Q3 loss widens YOY

Fireswirl Technologies Inc. said its normalized net income for the third quarter came to a loss of C$182,810, compared with a loss of C$70,020 in the prior-year period.

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

The normalized profit margin declined to negative 46.4% from negative 0.4% in the year-earlier period.

Total revenue declined 18.1% year over year to C$12.9 million from C$15.7 million, and total operating expenses decreased 18.7% on an annual basis to C$13.0 million from C$16.0 million.

Reported net income came to C$2.7 million, or 5 cents per share, compared to a loss of C$535,710, or a loss of 1 cents per share, in the prior-year period.