Crawford United Corp. said its normalized net income for the fiscal first quarter ended Dec. 31, 2015, was a loss of 2 cents per share, compared with a loss of 10 cents per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $29,490, compared with a loss of $169,160 in the prior-year period.
The normalized profit margin increased to negative 2.1% from negative 14.6% in the year-earlier period.
Total revenue climbed 18.5% year over year to $1.4 million from $1.2 million, and total operating expenses totaled $1.4 million, compared with $1.4 million in the prior-year period.
Reported net income totaled a loss of $49,150, or a loss of 3 cents per share, compared to a loss of $278,500, or a loss of 17 cents per share, in the prior-year period.
