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Wow Unlimited Media Q1 loss widens YOY

Wow Unlimited Media Inc. said its normalized net income for the first quarter amounted to a loss of C$3.44 per share, compared with a loss of 9 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of C$6.0 million, compared with a loss of C$159,730 in the year-earlier period.

The normalized profit margin dropped to negative 132.9% from negative 3.9% in the year-earlier period.

Total revenue climbed 11.9% year over year to C$4.5 million from C$4.1 million, and total operating expenses climbed 21.1% year over year to C$4.9 million from C$4.0 million.

Reported net income totaled a loss of C$10.0 million, or a loss of C$5.68 per share, compared to a loss of C$255,570, or a loss of 15 cents per share, in the prior-year period.