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Colabor Group fiscal Q1 loss narrows YOY

Colabor Group Inc. said its normalized net income for the fiscal first quarter ended March 21 amounted to a loss of 14 Canadian cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 15 cents per share.

The per-share loss decreased 20.4% year over year from 17 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of C$3.8 million, compared with a loss of C$4.7 million in the prior-year period.

The normalized profit margin increased to negative 1.2% from negative 1.7% in the year-earlier period.

Total revenue increased 9.1% year over year to C$304.7 million from C$279.3 million, and total operating expenses increased 8.5% year over year to C$307.6 million from C$283.4 million.

Reported net income totaled a loss of C$6.3 million, or a loss of 23 cents per share, compared to a loss of C$5.6 million, or a loss of 21 cents per share, in the year-earlier period.