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HopTo Q1 loss narrows YOY

hopTo Inc. said its first-quarter normalized net income was a loss of 6 cents per share, compared with a loss of 10 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $608,880, compared with a loss of $788,690 in the year-earlier period.

The normalized profit margin dropped to negative 60.4% from negative 53.6% in the year-earlier period.

Total revenue fell 31.5% on an annual basis to $1.0 million from $1.5 million, and total operating expenses fell 27.7% on an annual basis to $1.9 million from $2.7 million.

Reported net income came to a loss of $974,900, or a loss of 10 cents per share, compared to a loss of $1.3 million, or a loss of 17 cents per share, in the year-earlier period.