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Model N fiscal Q1 loss widens 77.8% YOY

Model N Inc. said its normalized net income for the fiscal first quarter ended Dec. 31, 2015, came to a loss of 17 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 17 cents per share.

The per-share loss increased 67.8% year over year from 10 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $4.6 million, compared with a loss of $2.6 million in the prior-year period.

The normalized profit margin fell to negative 18.9% from negative 11.8% in the year-earlier period.

Total revenue increased 10.8% year over year to $24.5 million from $22.1 million, and total operating expenses rose 21.0% year over year to $31.8 million from $26.3 million.

Reported net income totaled a loss of $7.8 million, or a loss of 29 cents per share, compared to a loss of $4.3 million, or a loss of 17 cents per share, in the prior-year period.