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Adya Q1 loss narrows YOY

Adya Inc. said its normalized net income for the first quarter came to a loss of C$57,300, compared with a loss of C$84,530 in the prior-year period.

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

The normalized profit margin climbed to negative 1.4% from negative 1.8% in the year-earlier period.

Total revenue decreased 15.5% on an annual basis to C$4.0 million from C$4.8 million, and total operating expenses fell 16.2% from the prior-year period to C$4.0 million from C$4.8 million.

Reported net income totaled a loss of C$91,680, or a loss of 0 cents per share, compared to a loss of C$135,250, or a loss of 0 cents per share, in the prior-year period.