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Sitestar Q1 loss narrows YOY

Enterprise Diversified Inc. said its first-quarter normalized net income amounted to a loss of $5,760, compared with a loss of $108,160 in the prior-year period.

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

The normalized profit margin increased to negative 0.8% from negative 23.6% in the year-earlier period.

Total revenue climbed 66.5% on an annual basis to $764,300 from $458,950, and total operating expenses grew 25.5% year over year to $774,430 from $617,070.

Reported net income came to a loss of $9,220, or a loss of 0 cents per share, compared to a loss of $173,060, or a loss of 0 cents per share, in the year-earlier period.