Spot Coffee (Canada) Ltd. said its first-quarter normalized net income amounted to a loss of C$188,780, compared with a loss of C$285,690 in the prior-year period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
The normalized profit margin rose to negative 6.4% from negative 14.6% in the year-earlier period.
Total revenue increased 52.0% year over year to C$3.0 million from C$2.0 million, and total operating expenses climbed 34.2% from the prior-year period to C$3.1 million from C$2.3 million.
Reported net income totaled a loss of C$301,010, or a loss of 0 cents per share, compared to a loss of C$469,520, or a loss of 1 cents per share, in the prior-year period.