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Tangelo Games Q1 loss narrows YOY

Tangelo Games Corp. said its first-quarter normalized net income was a loss of C$208,480, compared with a loss of C$479,300 in the year-earlier period.

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

The normalized profit margin increased to negative 1.9% from negative 12.3% in the year-earlier period.

Total revenue rose year over year to C$10.9 million from C$3.9 million, and total operating expenses grew from the prior-year period to C$11.0 million from C$3.3 million.

Reported net income totaled C$1.7 million, or 1 cents per share, compared to a loss of C$2.6 million, or a loss of 2 cents per share, in the year-earlier period.