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Track Group fiscal Q1 loss narrows YOY

Track Group Inc. said its normalized net income for the fiscal first quarter ended Dec. 31, 2015, was a loss of 12 cents per share, compared with a loss of 13 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 $1.3 million, compared with a loss of $1.4 million in the year-earlier period.

The normalized profit margin climbed to negative 20.1% from negative 29.2% in the year-earlier period.

Total revenue increased 36.7% on an annual basis to $6.3 million from $4.6 million, and total operating expenses grew 23.5% from the prior-year period to $7.6 million from $6.2 million.

Reported net income totaled a loss of $2.2 million, or a loss of 21 cents per share, compared to a loss of $2.2 million, or a loss of 22 cents per share, in the year-earlier period.