Koda Ltd. said its normalized net income for the fiscal third quarter ended March 31 came to a loss of $376,750, compared with a loss of $335,750 in the prior-year period.

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

The normalized profit margin declined to negative 4.8% from negative 3.4% in the year-earlier period.

Total revenue declined 20.2% year over year to $7.9 million from $9.9 million, and total operating expenses declined 24.3% from the prior-year period to $8.5 million from $11.2 million.

Reported net income totaled $59,000, or 0 cents per share, compared to a loss of $1.1 million, or a loss of 1 cents per share, in the prior-year period.