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Centric Health Q1 loss narrows YOY

Centric Health Corp. said its first-quarter normalized net income was a loss of 3 Canadian cents per share, compared with a loss of 5 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of C$5.3 million, compared with a loss of C$7.1 million in the year-earlier period.

The normalized profit margin rose to negative 12.9% from negative 19.0% in the year-earlier period.

Total revenue grew 10.5% on an annual basis to C$41.0 million from C$37.1 million, and total operating expenses increased 6.2% on an annual basis to C$41.4 million from C$39.0 million.

Reported net income totaled a loss of C$8.9 million, or a loss of 6 cents per share, compared to a loss of C$13.6 million, or a loss of 9 cents per share, in the prior-year period.