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Trader Media East Q1 loss widens 12.9% YOY

Trader Media East Ltd. said its first-quarter normalized net income amounted to a loss of 3 cents per share, compared with a loss of 3 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 $2.0 million, compared with a loss of $1.8 million in the year-earlier period.

The normalized profit margin declined to negative 85.9% from negative 27.8% in the year-earlier period.

Total revenue declined 63.5% year over year to $2.3 million from $6.3 million, and total operating expenses fell 60.2% year over year to $3.3 million from $8.3 million.

Reported net income came to a loss of $2.5 million, or a loss of 4 cents per share, compared to a loss of $6.3 million, or a loss of 11 cents per share, in the prior-year period.