Nesscap Energy Inc. said its normalized net income for the first quarter was a loss of $375,110, compared with a loss of $668,570 in the prior-year period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
The normalized profit margin climbed to negative 10.0% from negative 19.6% in the year-earlier period.
Total revenue climbed 10.4% year over year to $3.8 million from $3.4 million, and total operating expenses climbed on an annual basis to $4.2 million from $4.0 million.
Reported net income came to a loss of $600,180, or a loss of 0 cents per share, compared to a loss of $1.1 million, or a loss of 0 cents per share, in the year-earlier period.