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Fireswirl Technologies Q1 loss widens YOY

Fireswirl Technologies Inc. said its normalized net income for the first quarter was a loss of C$485,510, compared with a loss of C$163,980 in the year-earlier period.

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

The normalized profit margin declined to negative 144.6% from negative 1.6% in the year-earlier period.

Total revenue increased on an annual basis to C$10.3 million from C$10.1 million, and total operating expenses increased from the prior-year period to C$10.6 million from C$10.3 million.

Reported net income came to C$2.3 million, or 4 cents per share, compared to a loss of C$270,830, or a loss of 1 cents per share, in the prior-year period.