Primo Water Corp. said its normalized net income for the first quarter was a loss of $70,630, compared with a loss of $1.0 million in the year-earlier period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
The normalized profit margin rose to negative 0.2% from negative 4.4% in the year-earlier period.
Total revenue climbed 24.2% on an annual basis to $29.2 million from $23.5 million, and total operating expenses climbed 20.4% from the prior-year period to $28.8 million from $23.9 million.
Reported net income came to a loss of $199,000, or a loss of 1 cents per share, compared to a loss of $3.6 million, or a loss of 15 cents per share, in the prior-year period.
