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Memex fiscal Q1 loss widens 39.2% YOY

Memex Inc. said its normalized net income for the fiscal first quarter ended Dec. 31, 2015, amounted to a loss of C$400,810, compared with a loss of C$287,940 in the prior-year period.

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

The normalized profit margin declined to negative 65.3% from negative 57.5% in the year-earlier period.

Total revenue climbed 22.4% year over year to C$613,570 from C$501,180, and total operating expenses climbed 38.1% from the prior-year period to C$1.3 million from C$954,780.

Reported net income came to a loss of C$641,290, or a loss of 1 cents per share, compared to a loss of C$460,710, or a loss of 1 cents per share, in the year-earlier period.