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BMTC Group Q1 loss narrows YOY

BMTC Group Inc. said its normalized net income for the first quarter came to a loss of 2 Canadian cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 5 cents per share.

The per-share loss decreased 58.4% year over year from 5 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of C$1.0 million, compared with a loss of C$2.5 million in the year-earlier period.

The normalized profit margin climbed to negative 0.7% from negative 1.7% in the year-earlier period.

Total revenue grew on an annual basis to C$149.3 million from C$145.1 million, and total operating expenses increased from the prior-year period to C$151.4 million from C$149.6 million.

Reported net income totaled C$59,000, or 0 cents per share, compared to a loss of C$1.4 million, or a loss of 3 cents per share, in the year-earlier period.