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Resonant Inc. Q1 loss widens 38.1% YOY

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Resonant Inc. Q1 loss widens 38.1% YOY

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.