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Global Casinos Q1 loss widens 76.1% YOY

Global Casinos Inc. said its first-quarter normalized net income was a loss of $150,810, compared with a loss of $85,650 in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin increased to negative 12.8% from negative 36.7% in the year-earlier period.

Total revenue increased on an annual basis to $1.2 million from $233,280, and total operating expenses rose on an annual basis to $749,080 from $189,340.

Reported net income totaled a loss of $218,050, or a loss of 1 cents per share, compared to income of $2.4 million, or 12 cents per share, in the year-earlier period.