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Critical Control Energy Services Q1 loss widens YOY

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Critical Control Energy Services Q1 loss widens YOY

Critical Control Energy Services Corp. said its normalized net income for the first quarter was a loss of C$798,130, compared with a loss of C$77,500 in the year-earlier period.

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

The normalized profit margin dropped to negative 8.2% from negative 0.8% in the year-earlier period.

Total revenue declined on an annual basis to C$9.1 million from C$9.5 million, and total operating expenses decreased 5.2% from the prior-year period to C$9.4 million from C$9.9 million.

Reported net income totaled a loss of C$1.2 million, or a loss of 2 cents per share, compared to a loss of C$134,520, or a loss of 0 cents per share, in the year-earlier period.