trending Market Intelligence /marketintelligence/en/news-insights/trending/uu5yhhwatgBvM_OW21qI6g2 content esgSubNav
In This List

Spectra7 Microsystems Q1 loss narrows YOY

S&P Capital IQ Pro | Powered by Expert Insights

Blog

Beyond ESG with Climate Stress Testing: Getting Practical at Banks & Insurers

Blog

Broadcast broker activities, H1'21

Blog

Enterprises are missing out on 24B by not optimizing cloud spending not going multicloud


Spectra7 Microsystems Q1 loss narrows YOY

Spectra7 Microsystems Inc. said its normalized net income for the first quarter was a loss of 1 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 2 cents per share.

The per-share loss decreased 42.2% year over year from 2 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $1.6 million, compared with a loss of $2.0 million in the prior-year period.

The normalized profit margin increased to negative 62.3% from negative 291.5% in the year-earlier period.

Total revenue climbed year over year to $2.5 million from $701,940, and total operating expenses rose 37.4% year over year to $5.0 million from $3.7 million.

Reported net income totaled a loss of $2.5 million, or a loss of 2 cents per share, compared to a loss of $3.3 million, or a loss of 3 cents per share, in the prior-year period.