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Support.com Q1 loss widens 93.6% YOY

Support.com Inc. said its first-quarter normalized net income came to a loss of 16 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 27 cents per share.

The per-share loss grew 91.3% year over year from 8 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $2.8 million, compared with a loss of $1.5 million in the prior-year period.

The normalized profit margin dropped to negative 17.1% from negative 6.3% in the year-earlier period.

Total revenue decreased 28.3% on an annual basis to $16.6 million from $23.2 million, and total operating expenses fell 16.9% on an annual basis to $21.3 million from $25.6 million.

Reported net income came to a loss of $4.4 million, or a loss of 25 cents per share, compared to a loss of $2.7 million, or a loss of 15 cents per share, in the prior-year period.