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Intouch Insight swings to loss in Q1

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Intouch Insight swings to loss in Q1

Intouch Insight Ltd. said its first-quarter normalized net income was a loss of C$16,930, compared with income of C$109,060 in the year-earlier period.

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

The normalized profit margin fell to negative 0.5% from 4.7% in the year-earlier period.

Total revenue rose 42.2% year over year to C$3.3 million from C$2.3 million, and total operating expenses grew 55.1% on an annual basis to C$3.3 million from C$2.1 million.

Reported net income totaled a loss of C$27,090, or a loss of 0 cents per share, compared to income of C$151,470, or 1 cents per share, in the prior-year period.