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Gilla Q1 loss widens YOY

Gilla Inc. said its first-quarter normalized net income came to a loss of $418,990, compared with a loss of $410,490 in the prior-year period.

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

Total revenue declined 80.3% on an annual basis to $3,800 from $19,260, and total operating expenses decreased 7.5% on an annual basis to $550,310 from $595,150.

Reported net income came to a loss of $670,390, or a loss of 1 cents per share, compared to a loss of $664,480, or a loss of 1 cents per share, in the prior-year period.