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TeraGo Q1 loss narrows YOY

TeraGo Inc. said its normalized net income for the first quarter came to a loss of 4 Canadian cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 3 cents per share.

The per-share loss narrowed 35.5% year over year from 6 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of C$512,500, compared with a loss of C$659,380 in the year-earlier period.

The normalized profit margin increased to negative 3.4% from negative 5.4% in the year-earlier period.

Total revenue increased 22.0% on an annual basis to C$14.9 million from C$12.2 million, and total operating expenses increased 19.7% on an annual basis to C$15.2 million from C$12.7 million.

Reported net income totaled a loss of C$848,100, or a loss of 6 cents per share, compared to a loss of C$16,000, or a loss of 0 cents per share, in the year-earlier period.