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NexJ Systems Q1 loss widens 69.4% YOY

NexJ Systems Inc. said its normalized net income for the first quarter amounted to a loss of 3 Canadian cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 2 cents per share.

The per-share loss widened 70.7% year over year from 2 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of C$709,380, compared with a loss of C$418,750 in the year-earlier period.

The normalized profit margin declined to negative 8.8% from negative 6.7% in the year-earlier period.

Total revenue rose 30.1% year over year to C$8.1 million from C$6.2 million, and total operating expenses climbed 10.8% from the prior-year period to C$8.4 million from C$7.6 million.

Reported net income came to a loss of C$1.8 million, or a loss of 9 cents per share, compared to a loss of C$613,770, or a loss of 3 cents per share, in the prior-year period.