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Crexendo Q1 loss narrows YOY

Crexendo Inc. said its first-quarter normalized net income was a loss of 4 cents per share, compared with a loss of 6 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $540,630, compared with a loss of $725,000 in the year-earlier period.

The normalized profit margin climbed to negative 24.9% from negative 39.1% in the year-earlier period.

Total revenue climbed 17.4% on an annual basis to $2.2 million from $1.9 million, and total operating expenses fell 5.7% from the prior-year period to $3.0 million from $3.2 million.

Reported net income came to a loss of $927,070, or a loss of 7 cents per share, compared to a loss of $1.1 million, or a loss of 9 cents per share, in the prior-year period.