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Spackman Entertainment Q1 loss narrows YOY

Spackman Entertainment Group Ltd. said its normalized net income for the first quarter was a loss of $560,130, compared with a loss of $813,630 in the prior-year period.

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

The normalized profit margin rose to negative 14.5% from negative 53.4% in the year-earlier period.

Total revenue increased on an annual basis to $3.9 million from $1.5 million, and total operating expenses climbed year over year to $6.4 million from $2.9 million.

Reported net income totaled a loss of $924,000, or a loss of 0 cents per share, compared to a loss of $1.3 million, or a loss of 0 cents per share, in the prior-year period.