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Technical Communications fiscal Q1 loss narrows YOY

Technical Communications Corp. said its normalized net income for the fiscal first quarter ended Jan. 2 came to a loss of 14 cents per share, compared with a loss of 25 cents per share in the first quarter ended Dec. 27, 2014.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $261,120, compared with a loss of $454,740 in the first quarter ended Dec. 27, 2014.

The normalized profit margin climbed to negative 26.7% from negative 51.5% in the year-earlier period.

Total revenue increased 10.9% on an annual basis to $979,400 from $883,150, and total operating expenses decreased 13.4% from the prior-year period to $1.4 million from $1.6 million.

Reported net income came to a loss of $423,170, or a loss of 23 cents per share, compared to a loss of $735,570, or a loss of 40 cents per share, in the first quarter ended Dec. 27, 2014.