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Rightscorp swings to loss in Q1

Rightscorp Inc. said its first-quarter normalized net income amounted to a loss of $490,110, compared with income of $76,240 in the year-earlier period.

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

Total revenue fell 77.8% year over year to $68,280 from $307,900, and total operating expenses declined 16.4% on an annual basis to $1.0 million from $1.2 million.

Reported net income totaled a loss of $784,180, or a loss of 1 cents per share, compared to income of $121,990, or 0 cents per share, in the prior-year period.