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Care.com fiscal Q1 loss narrows YOY

Care.com Inc. said its normalized net income for the fiscal first quarter ended March 26 came to a loss of 2 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 6 cents per share.

The per-share loss narrowed 89.0% year over year from 18 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $665,630, compared with a loss of $5.7 million in the prior-year period.

The normalized profit margin increased to negative 1.7% from negative 17.9% in the year-earlier period.

Total revenue grew 22.5% year over year to $39.3 million from $32.0 million, and total operating expenses came to $40.3 million, compared with $40.0 million in the year-earlier period.

Reported net income totaled a loss of $1.0 million, or a loss of 3 cents per share, compared to a loss of $9.8 million, or a loss of 31 cents per share, in the year-earlier period.