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Centric Health Q1 loss widens 11.8% YOY

Centric Health Corp. said its normalized net income for the first quarter came to a loss of 4 Canadian cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 2 cents per share.

The per-share loss decreased year over year from 4 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of C$5.6 million, compared with a loss of C$5.0 million in the year-earlier period.

The normalized profit margin fell to negative 19.0% from negative 6.7% in the year-earlier period.

Total revenue climbed 11.3% on an annual basis to C$83.2 million from C$74.8 million, and total operating expenses rose 10.8% from the prior-year period to C$82.8 million from C$74.8 million.

Reported net income came to a loss of C$11.8 million, or a loss of 8 cents per share, compared to a loss of C$8.5 million, or a loss of 6 cents per share, in the year-earlier period.