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Canlan Ice Sports Q3 loss widens 76.6% YOY

Canlan Ice Sports Corp. said its normalized net income for the third quarter amounted to a loss of 16 Canadian cents per share, compared with a loss of 9 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of C$2.2 million, compared with a loss of C$1.2 million in the year-earlier period.

The normalized profit margin fell to negative 11.0% from negative 7.7% in the year-earlier period.

Total revenue rose year over year to C$16.5 million from C$16.2 million, and total operating expenses grew 5.6% year over year to C$18.2 million from C$17.2 million.

Reported net income totaled a loss of C$3.1 million, or a loss of 24 cents per share, compared to a loss of C$1.8 million, or a loss of 14 cents per share, in the year-earlier period.