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TrackX Holdings fiscal Q1 loss widens 56.6% YOY

TrackX Holdings Inc. said its normalized net income for the fiscal first quarter ended Dec. 31, 2015, came to a loss of C$267,270, compared with a loss of C$170,680 in the prior-year period.

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

The normalized profit margin declined to negative 99.0% from negative 57.6% in the year-earlier period.

Total revenue fell 8.8% year over year to C$270,070 from C$296,170, and total operating expenses rose 22.4% on an annual basis to C$657,920 from C$537,510.

Reported net income came to a loss of C$427,630, or a loss of 14 cents per share, compared to a loss of C$273,080 in the year-earlier period.