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Neonode Q1 loss narrows YOY

Neonode Inc. said its normalized net income for the first quarter was a loss of 2 cents per share, compared with a loss of 3 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $800,500, compared with a loss of $1.3 million in the year-earlier period.

The normalized profit margin rose to negative 25.6% from negative 57.2% in the year-earlier period.

Total revenue climbed 38.4% on an annual basis to $3.1 million from $2.3 million, and total operating expenses grew on an annual basis to $4.4 million from $4.3 million.

Reported net income totaled a loss of $1.4 million, or a loss of 3 cents per share, compared to a loss of $2.1 million, or a loss of 5 cents per share, in the prior-year period.