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Vuzix Q1 loss narrows YOY

Vuzix Corp. said its first-quarter normalized net income amounted to a loss of 15 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 18 cents per share.

The per-share loss narrowed 37.5% year over year from 23 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $2.4 million, compared with a loss of $3.2 million in the prior-year period.

Total revenue declined 55.0% year over year to $363,840 from $809,160, and total operating expenses fell 9.5% from the prior-year period to $4.1 million from $4.5 million.

Reported net income came to a loss of $4.2 million, or a loss of 26 cents per share, compared to a loss of $5.4 million, or a loss of 40 cents per share, in the prior-year period.