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Canlan Ice Sports Q3 loss narrows YOY

Canlan Ice Sports Corp. said its third-quarter normalized net income amounted to a loss of 11 Canadian cents per share, compared with a loss of 14 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of C$1.5 million, compared with a loss of C$1.8 million in the prior-year period.

The normalized profit margin rose to negative 9.3% from negative 11.0% in the year-earlier period.

Total revenue increased year over year to C$16.8 million from C$16.5 million, and total operating expenses rose year over year to C$18.8 million from C$18.2 million.

Reported net income totaled a loss of C$1.1 million, or a loss of 8 cents per share, compared to a loss of C$2.5 million, or a loss of 19 cents per share, in the year-earlier period.