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Qumu Q1 loss narrows YOY

Qumu Corp. said its first-quarter normalized net income came to a loss of 28 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 40 cents per share.

The per-share loss narrowed 59.1% year over year from 68 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $2.6 million, compared with a loss of $6.3 million in the prior-year period.

The normalized profit margin climbed to negative 29.6% from negative 105.2% in the year-earlier period.

Total revenue rose 46.4% year over year to $8.7 million from $6.0 million, and total operating expenses declined 19.2% year over year to $12.9 million from $16.0 million.

Reported net income came to a loss of $4.1 million, or a loss of 45 cents per share, compared to a loss of $9.8 million, or a loss of $1.08 per share, in the year-earlier period.