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Urbanimmersive fiscal Q1 loss widens YOY

Urbanimmersive Inc. said its normalized net income for the fiscal first quarter ended Dec. 31, 2015, came to a loss of C$124,530, compared with a loss of C$21,930 in the prior-year period.

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

The normalized profit margin fell to negative 67.8% from negative 6.0% in the year-earlier period.

Total revenue fell 49.8% year over year to C$183,700 from C$365,580, and total operating expenses declined 5.5% year over year to C$364,090 from C$385,120.

Reported net income came to a loss of C$199,240, or a loss of 1 cents per share, compared to a loss of C$35,090, or a loss of 0 cents per share, in the year-earlier period.