New Age Beverages Corp. said its first-quarter normalized net income amounted to a loss of $109,640, compared with a loss of $413,860 in the prior-year period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
The normalized profit margin increased to negative 7.8% from negative 175.1% in the year-earlier period.
Total revenue rose on an annual basis to $243,400 from $236,370, and total operating expenses fell 53.7% on an annual basis to $414,430 from $894,410.
Reported net income came to a loss of $175,420, or a loss of 1 cents per share, compared to a loss of $656,120, or a loss of 6 cents per share, in the prior-year period.
