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Vuzix Q2 loss widens 70.8% YOY

Vuzix Corp. said its normalized net income for the second quarter was a loss of 16 cents per share, compared with a loss of 9 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 $2.6 million, compared with a loss of $1.5 million in the year-earlier period.

Total revenue increased 31.1% on an annual basis to $560,880 from $427,810, and total operating expenses climbed 71.1% on an annual basis to $4.4 million from $2.6 million.

Reported net income came to a loss of $4.5 million, or a loss of 28 cents per share, compared to a loss of $2.8 million, or a loss of 17 cents per share, in the prior-year period.