NuRAN Wireless Inc. said its normalized net income for the fiscal first quarter ended Jan. 31 came to a loss of C$124,250, compared with a loss of C$541,670 in the year-earlier period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
The normalized profit margin rose to negative 7.9% from negative 27.4% in the year-earlier period.
Total revenue decreased 19.9% on an annual basis to C$1.6 million from C$2.0 million, and total operating expenses fell 38.4% year over year to C$1.6 million from C$2.5 million.
Reported net income came to a loss of C$198,800, or a loss of 0 cents per share, compared to a loss of C$866,670, or a loss of 8 cents per share, in the prior-year period.
