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Identillect Technologies Q1 loss narrows YOY

Identillect Technologies Corp. said its normalized net income for the first quarter was a loss of $275,110, compared with a loss of $288,200 in the year-earlier period.

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

The normalized profit margin was 195.2%.

Total revenue rose on an annual basis to $140,950 from $16,950, and total operating expenses rose 12.4% from the prior-year period to $521,000 from $463,690.

Reported net income totaled a loss of $440,170, or a loss of 2 cents per share, compared to a loss of $467,330, or a loss of 2 cents per share, in the prior-year period.