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ADDvantage Technologies fiscal Q1 profit falls YOY

ADDvantage Technologies Group Inc. said its normalized net income for the fiscal first quarter ended Dec. 31, 2015, amounted to $18,120, a decline of 95.7% from $419,330 in the prior-year period.

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

The normalized profit margin fell to 0.2% from 3.9% in the year-earlier period.

Total revenue declined 23.9% on an annual basis to $8.2 million from $10.8 million, and total operating expenses declined 19.1% from the prior-year period to $8.2 million from $10.1 million.

Reported net income decreased 94.0% on an annual basis to $23,990, or 0 cents per share, from $401,790, or 4 cents per share.