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Intellinetics Q1 loss widens YOY

Intellinetics Inc. said its first-quarter normalized net income came to a loss of 2 cents per share, compared with a loss of 2 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 $334,850, compared with a loss of $130,540 in the year-earlier period.

The normalized profit margin declined to negative 55.5% from negative 22.4% in the year-earlier period.

Total revenue rose year over year to $603,390 from $583,780, and total operating expenses increased 43.6% year over year to $1.0 million from $696,730.

Reported net income totaled a loss of $535,770, or a loss of 3 cents per share, compared to a loss of $208,860, or a loss of 3 cents per share, in the year-earlier period.