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Spot Coffee Q2 loss widens 40.4% YOY

Spot Coffee (Canada) Ltd. said its normalized net income for the second quarter amounted to a loss of C$261,150, compared with a loss of C$185,960 in the prior-year period.

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

The normalized profit margin dropped to negative 8.9% from negative 8.0% in the year-earlier period.

Total revenue grew 26.5% year over year to C$2.9 million from C$2.3 million, and total operating expenses rose 26.2% from the prior-year period to C$3.1 million from C$2.4 million.

Reported net income totaled a loss of C$406,580, or a loss of 0 cents per share, compared to a loss of C$288,330, or a loss of 0 cents per share, in the prior-year period.