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Urbanimmersive fiscal Q2 loss widens 32.7% YOY

Urbanimmersive Inc. said its normalized net income for the fiscal second quarter ended March 31 was a loss of C$153,410, compared with a loss of C$115,630 in the year-earlier period.

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

The normalized profit margin declined to negative 82.7% from negative 50.2% in the year-earlier period.

Total revenue declined 19.4% on an annual basis to C$185,470 from C$230,230, and total operating expenses increased from the prior-year period to C$414,970 from C$402,040.

Reported net income totaled a loss of C$245,450, or a loss of 1 cents per share, compared to a loss of C$185,010, or a loss of 1 cents per share, in the year-earlier period.