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Data Deposit Box Q1 loss widens 12.1% YOY

Data Deposit Box Inc. said its normalized net income for the first quarter was a loss of 1 Canadian cents per share, compared with a loss of 2 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 C$428,460, compared with a loss of C$382,230 in the year-earlier period.

The normalized profit margin declined to negative 43.0% from negative 32.8% in the year-earlier period.

Total revenue decreased 14.4% on an annual basis to C$996,080 from C$1.2 million, and total operating expenses decreased 7.9% year over year to C$1.6 million from C$1.8 million.

Reported net income totaled a loss of C$685,540, or a loss of 2 cents per share, compared to a loss of C$2.4 million, or a loss of 13 cents per share, in the year-earlier period.