Resonant Inc. said its normalized net income for the first quarter was a loss of 26 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 24 cents per share.
The per-share loss increased 33.2% year over year from 20 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $1.9 million, compared with a loss of $1.4 million in the year-earlier period.
Total revenue totaled $27,000, and total operating expenses climbed 39.0% from the prior-year period to $3.1 million from $2.2 million.
Reported net income came to a loss of $3.1 million, or a loss of 42 cents per share, compared to a loss of $2.2 million, or a loss of 31 cents per share, in the prior-year period.