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Torvec Q2 loss widens 29.5% YOY

CurAegis Technologies Inc. said its second-quarter normalized net income amounted to a loss of 2 cents per share, compared with a loss of 1 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 $868,750, compared with a loss of $670,630 in the year-earlier period.

Total revenue grew 60.0% year over year to $8,000 from $5,000, and total operating expenses rose 14.4% from the prior-year period to $1.2 million from $1.1 million.

Reported net income totaled a loss of $1.5 million, or a loss of 3 cents per share, compared to a loss of $1.2 million, or a loss of 3 cents per share, in the prior-year period.