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Quest Solution Q1 loss widens YOY

Quest Solution Inc. said its normalized net income for the first quarter was a loss of $939,210, compared with a loss of $263,800 in the year-earlier period.

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

The normalized profit margin fell to negative 6.2% from negative 2.5% in the year-earlier period.

Total revenue climbed 72.3% on an annual basis to $18.4 million from $10.7 million, and total operating expenses increased 79.4% from the prior-year period to $19.3 million from $10.8 million.

Reported net income totaled a loss of $1.5 million, or a loss of 4 cents per share, compared to a loss of $399,710, or a loss of 1 cents per share, in the year-earlier period.