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Maxwell Technologies Q1 loss narrows YOY

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Maxwell Technologies Q1 loss narrows YOY

Maxwell Technologies Inc. said its normalized net income for the first quarter came to a loss of 12 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 11 cents per share.

The per-share loss narrowed 37.1% year over year from 19 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $3.8 million, compared with a loss of $5.6 million in the prior-year period.

The normalized profit margin increased to negative 10.8% from negative 16.2% in the year-earlier period.

Total revenue climbed on an annual basis to $35.2 million from $34.7 million, and total operating expenses declined year over year to $41.2 million from $43.2 million.

Reported net income came to a loss of $6.8 million, or a loss of 22 cents per share, compared to a loss of $9.3 million, or a loss of 32 cents per share, in the prior-year period.