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Carbonite Q1 loss narrows YOY

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Carbonite Q1 loss narrows YOY

Carbonite Inc. said its normalized net income for the first quarter was a loss of 9 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 6 cents per share.

The per-share loss decreased 34.8% year over year from 14 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $2.4 million, compared with a loss of $3.7 million in the prior-year period.

The normalized profit margin rose to negative 5.0% from negative 11.2% in the year-earlier period.

Total revenue rose 45.7% year over year to $48.1 million from $33.0 million, and total operating expenses grew 33.1% from the prior-year period to $51.8 million from $38.9 million.

Reported net income totaled a loss of $4.7 million, or a loss of 17 cents per share, compared to a loss of $6.2 million, or a loss of 23 cents per share, in the year-earlier period.