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Proofpoint Q1 loss widens 45.4% YOY

Proofpoint Inc. said its normalized net income for the first quarter came to a loss of 46 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 14 cents per share.

The per-share loss grew 37.8% year over year from 33 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $18.9 million, compared with a loss of $13.0 million in the prior-year period.

The normalized profit margin declined to negative 24.8% from negative 22.5% in the year-earlier period.

Total revenue grew 36.8% year over year to $79.0 million from $57.8 million, and total operating expenses grew 38.8% on an annual basis to $103.4 million from $74.5 million.

Reported net income came to a loss of $31.7 million, or a loss of 77 cents per share, compared to a loss of $21.7 million, or a loss of 56 cents per share, in the prior-year period.