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Asure Software Q1 loss widens YOY

Asure Software Inc. said its first-quarter normalized net income came to a loss of 8 cents per share, compared with a loss of 3 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 $502,500, compared with a loss of $195,630 in the year-earlier period.

The normalized profit margin fell to negative 14.0% from negative 3.1% in the year-earlier period.

Total revenue rose 6.2% on an annual basis to $6.7 million from $6.3 million, and total operating expenses rose 14.2% on an annual basis to $7.2 million from $6.3 million.

Reported net income came to a loss of $1.6 million, or a loss of 25 cents per share, compared to a loss of $484,400, or a loss of 8 cents per share, in the prior-year period.