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TWC Enterprises Q1 loss widens 22.4% YOY

TWC Enterprises Ltd. said its first-quarter normalized net income came to a loss of 25 Canadian cents per share, compared with a loss of 20 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 C$6.6 million, compared with a loss of C$5.4 million in the year-earlier period.

The normalized profit margin dropped to negative 25.6% from negative 21.0% in the year-earlier period.

Total revenue came to C$25.8 million, compared with C$25.7 million in the prior-year period, and total operating expenses increased from the prior-year period to C$29.9 million from C$28.7 million.

Reported net income came to a loss of C$7.4 million, or a loss of 28 cents per share, compared to a loss of C$5.7 million, or a loss of 22 cents per share, in the prior-year period.