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Automodular swings to loss in Q1

Automodular Corp. said its normalized net income for the first quarter amounted to a loss of 5 Canadian cents per share, compared with 14 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of C$889,380, compared with income of C$2.8 million in the prior-year period.

Reported net income totaled a loss of C$1.6 million, or a loss of 8 cents per share, compared to income of C$3.1 million, or 16 cents per share, in the prior-year period.