Big Rock Brewery Inc. said its normalized net income for the first quarter was a loss of 11 Canadian cents per share, compared with a loss of 8 cents per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of C$725,630, compared with a loss of C$521,880 in the prior-year period.
The normalized profit margin fell to negative 7.7% from negative 7.3% in the year-earlier period.
Total revenue climbed 26.7% on an annual basis to C$9.0 million from C$7.1 million, and total operating expenses increased 27.5% year over year to C$10.2 million from C$8.0 million.
Reported net income totaled a loss of C$756,350, or a loss of 11 cents per share, compared to a loss of C$618,830, or a loss of 9 cents per share, in the year-earlier period.