Edgewater Technology Inc. said its first-quarter normalized net income amounted to a loss of $56,250, compared with a loss of $550,630 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 2.2% in the year-earlier period.
Total revenue grew 21.7% on an annual basis to $30.2 million from $24.8 million, and total operating expenses climbed 18.5% on an annual basis to $30.4 million from $25.7 million.
Reported net income totaled a loss of $707,400, or a loss of 6 cents per share, compared to a loss of $907,600, or a loss of 8 cents per share, in the prior-year period.