LRAD Corp. said its normalized net income for the fiscal first quarter ended Dec. 31, 2015, amounted to a loss of $431,040, compared with income of $316,020 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 15.3% from 7.2% in the year-earlier period.
Total revenue decreased 35.7% year over year to $2.8 million from $4.4 million, and total operating expenses declined 9.3% from the prior-year period to $3.5 million from $3.9 million.
Reported net income came to a loss of $324,620, or a loss of 1 cents per share, compared to income of $337,860, or 1 cents per share, in the prior-year period.
