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ProntoForms Q1 loss widens 73.0% YOY

ProntoForms Corp. said its normalized net income for the first quarter came to a loss of C$543,480, compared with a loss of C$314,100 in the prior-year period.

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

The normalized profit margin declined to negative 24.7% from negative 21.3% in the year-earlier period.

Total revenue grew 49.3% year over year to C$2.2 million from C$1.5 million, and total operating expenses increased 41.4% from the prior-year period to C$2.9 million from C$2.0 million.

Reported net income came to a loss of C$869,580, or a loss of 1 cents per share, compared to a loss of C$502,560, or a loss of 1 cents per share, in the year-earlier period.