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Vuzix Q1 loss widens 10.8% YOY

Vuzix Corp. said its normalized net income for the first quarter came to a loss of 13 cents per share, compared with a loss of 15 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 $2.4 million in the prior-year period.

The normalized profit margin was 215.9%.

Total revenue grew on an annual basis to $1.2 million from $363,840, and total operating expenses rose 28.6% from the prior-year period to $5.2 million from $4.1 million.

Reported net income totaled a loss of $4.6 million, or a loss of 23 cents per share, compared to a loss of $4.2 million, or a loss of 26 cents per share, in the year-earlier period.