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Commerce Technologies Q1 loss widens 48.5% YOY

CommerceHub Inc. said its normalized net income for the first quarter amounted to $1.8 million, compared with a loss of $1.2 million in the prior-year period.

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

The normalized profit margin fell to negative 8.1% from negative 6.4% in the year-earlier period.

Total revenue rose 17.6% on an annual basis to $22.1 million from $18.8 million, and total operating expenses climbed 20.4% on an annual basis to $25.1 million from $20.9 million.

Reported net income came to a loss of $2.0 million, compared with a loss of $1.4 million in the year-earlier period.