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BSM Technologies fiscal Q2 loss narrows YOY

BSM Technologies Inc. said its normalized net income for the fiscal second quarter ended March 31 was a loss of C$85,990, compared with a loss of C$171,810 in the prior-year period.

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

The normalized profit margin increased to negative 0.6% from negative 2.2% in the year-earlier period.

Total revenue increased 99.3% on an annual basis to C$15.2 million from C$7.6 million, and total operating expenses rose 83.1% from the prior-year period to C$14.6 million from C$8.0 million.

Reported net income totaled a loss of C$861,620, or a loss of 1 cents per share, compared to income of C$855,650, or 2 cents per share, in the year-earlier period.