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Gilla Q3 loss widens 35.7% YOY

Gilla Inc. said its normalized net income for the third quarter was a loss of $825,550, compared with a loss of $608,180 in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin declined to negative 76.7% from negative 58.0% in the year-earlier period.

Total revenue increased year over year to $1.1 million from $1.0 million, and total operating expenses totaled $1.9 million, compared with $1.8 million in the prior-year period.

Reported net income totaled a loss of $980,620, or a loss of 1 cents per share, compared to a loss of $1.0 million, or a loss of 1 cents per share, in the prior-year period.