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Radient Technologies fiscal Q1 loss narrows YOY

Radient Technologies Inc. said its normalized net income for the fiscal first quarter ended June 30 was a loss of 2 Canadian cents per share, compared with a loss of 15 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$789,750, compared with a loss of C$2.3 million in the prior-year period.

Total revenue fell 37.0% on an annual basis to C$27,400 from C$43,500, and total operating expenses decreased 44.0% year over year to C$1.1 million from C$2.0 million.

Reported net income came to a loss of C$1.3 million, or a loss of 3 cents per share, compared to a loss of C$3.6 million, or a loss of 24 cents per share, in the year-earlier period.