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TVA Group Q1 loss narrows YOY

TVA Group Inc. said its first-quarter normalized net income came to a loss of 13 Canadian cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 27 cents per share.

The per-share loss decreased 73.4% year over year from 49 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of C$5.7 million, compared with a loss of C$12.7 million in the year-earlier period.

The normalized profit margin climbed to negative 3.9% from negative 10.0% in the year-earlier period.

Total revenue rose 15.0% on an annual basis to C$145.5 million from C$126.5 million, and total operating expenses grew 9.0% year over year to C$153.7 million from C$141.0 million.

Reported net income totaled a loss of C$7.4 million, or a loss of 17 cents per share, compared to a loss of C$14.7 million, or a loss of 57 cents per share, in the year-earlier period.