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Vertical Computer Systems Q1 loss narrows YOY

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Vertical Computer Systems Q1 loss narrows YOY

Vertical Computer Systems Inc. said its first-quarter normalized net income came to a loss of $320,100, compared with a loss of $411,660 in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin rose to negative 32.0% from negative 39.6% in the year-earlier period.

Total revenue decreased 9.1% year over year to $945,130 from $1.0 million, and total operating expenses fell 22.0% on an annual basis to $1.1 million from $1.4 million.

Reported net income came to a loss of $700,330, or a loss of 0 cents per share, compared to a loss of $826,660, or a loss of 0 cents per share, in the prior-year period.