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Quantenna Communications fiscal Q1 loss narrows YOY

Quantenna Communications Inc. said its normalized net income for the fiscal first quarter ended March 27 amounted to a loss of $1.01 per share, compared with a loss of $4.24 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 $1.1 million, compared with a loss of $3.0 million in the year-earlier period.

The normalized profit margin rose to negative 4.3% from negative 16.1% in the year-earlier period.

Total revenue grew 32.9% year over year to $24.4 million from $18.4 million, and total operating expenses climbed 13.5% from the prior-year period to $26.0 million from $22.9 million.

Reported net income totaled a loss of $1.7 million, or a loss of $1.63 per share, compared to a loss of $4.8 million, or a loss of $6.81 per share, in the prior-year period.