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ChannelAdvisor Q1 loss narrows YOY

ChannelAdvisor Corp. said its normalized net income for the first quarter came to a loss of 12 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 17 cents per share.

The per-share loss narrowed 48.8% year over year from 23 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $3.0 million, compared with a loss of $5.7 million in the year-earlier period.

The normalized profit margin climbed to negative 10.9% from negative 25.2% in the year-earlier period.

Total revenue increased 16.6% year over year to $26.3 million from $22.6 million, and total operating expenses decreased year over year to $31.1 million from $31.6 million.

Reported net income totaled a loss of $4.6 million, or a loss of 18 cents per share, compared to a loss of $9.0 million, or a loss of 36 cents per share, in the year-earlier period.