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ServiceSource International Q1 loss narrows YOY

ServiceSource International Inc. said its normalized net income for the first quarter came to a loss of 6 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 3 cents per share.

The per-share loss decreased 17.2% year over year from 7 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $4.9 million, compared with a loss of $5.8 million in the year-earlier period.

The normalized profit margin climbed to negative 8.2% from negative 8.8% in the year-earlier period.

Total revenue declined 9.7% year over year to $59.8 million from $66.2 million, and total operating expenses decreased 10.2% year over year to $66.1 million from $73.6 million.

Reported net income came to a loss of $9.1 million, or a loss of 11 cents per share, compared to a loss of $10.2 million, or a loss of 12 cents per share, in the year-earlier period.