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Vuzix Q3 loss narrows YOY

Vuzix Corp. said its normalized net income for the third quarter came to a loss of 10 cents per share, compared with a loss of 20 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $1.5 million, compared with a loss of $2.1 million in the year-earlier period.

The normalized profit margin was 156.2%.

Total revenue increased 46.0% on an annual basis to $970,380 from $664,590, and total operating expenses rose 69.7% on an annual basis to $3.3 million from $1.9 million.

Reported net income totaled a loss of $2.8 million, or a loss of 18 cents per share, compared to a loss of $3.3 million, or a loss of 31 cents per share, in the year-earlier period.