Brick Brewing Co. Ltd. said its normalized net income for the fiscal first quarter ended April 27 came to a loss of C$177,020, compared with income of C$46,990 in the prior-year period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
The normalized profit margin dropped to negative 2.3% from 0.5% in the year-earlier period.
Total revenue decreased 14.2% year over year to C$7.5 million from C$8.8 million, and total operating expenses fell 9.6% on an annual basis to C$7.7 million from C$8.5 million.
Reported net income totaled a loss of C$346,590, or a loss of 1 cents per share, compared to income of C$55,180, or 0 cents per share, in the prior-year period.
