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Naturally Splendid Enterprises Q1 loss widens YOY

Naturally Splendid Enterprises Ltd. said its normalized net income for the first quarter came to a loss of 2 Canadian cents per share, compared with a loss of 1 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$812,380, compared with a loss of C$296,430 in the prior-year period.

Total revenue decreased 44.9% year over year to C$39,490 from C$71,680, and total operating expenses climbed from the prior-year period to C$1.3 million from C$532,480.

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$474,300, or a loss of 2 cents per share, in the year-earlier period.