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Legend Power Systems fiscal Q1 loss narrows YOY

Legend Power Systems Inc. said its normalized net income for the fiscal first quarter ended Dec. 31, 2015, was a loss of C$154,960, compared with a loss of C$430,770 in the year-earlier period.

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

The normalized profit margin rose to negative 62.1% from negative 282.2% in the year-earlier period.

Total revenue rose year over year to C$778,350 from C$152,670, and total operating expenses grew 38.0% on an annual basis to C$1.0 million from C$743,240.

Reported net income totaled a loss of C$247,940, or a loss of 0 cents per share, compared to a loss of C$689,230, or a loss of 1 cents per share, in the prior-year period.