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Contagious Gaming swings to loss in fiscal Q4

Contagious Gaming Inc. said its normalized net income for the fiscal fourth quarter ended March 31 was a loss of 15 Canadian cents per share, compared with 4 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$1.1 million, compared with income of C$71,400 in the year-earlier period.

Total revenue decreased 61.8% on an annual basis to C$189,950 from C$496,680, and total operating expenses increased on an annual basis to C$1.9 million from C$457,820.

Reported net income came to a loss of C$1.6 million, or a loss of 21 cents per share, compared to a loss of C$35,760, or a loss of 2 cents per share, in the year-earlier period.

For the year, the company's normalized net income totaled a loss of 61 cents per share, compared with the S&P Capital IQ consensus normalized EPS estimate of a loss of C$1.30.

EPS was a loss of 29 cents in the prior year.

Normalized net income was a loss of C$2.7 million, compared with a loss of C$415,100 in the prior year.

Full-year total revenue grew 52.2% from the prior-year period to C$1.2 million from C$765,220, and total operating expenses grew 324.4% on an annual basis to C$5.3 million from C$1.2 million.

The company said reported net income came to a loss of C$7.7 million, or a loss of C$1.72 per share, in the full year, compared with a loss of C$1.8 million, or a loss of C$1.28 per share, the prior year.