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.
