EQ Inc. said its normalized net income for the first quarter amounted to a loss of 1 Canadian cents per share, compared with a loss of 3 cents per share in the prior-year period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of C$214,380, compared with a loss of C$496,880 in the year-earlier period.
The normalized profit margin rose to negative 26.5% from negative 53.9% in the year-earlier period.
Total revenue rose year over year to C$954,000 from C$921,000, and total operating expenses declined 21.6% from the prior-year period to C$1.3 million from C$1.7 million.
Reported net income came to a loss of C$158,570, or a loss of 1 cents per share, compared to a loss of C$792,860, or a loss of 5 cents per share, in the prior-year period.