DGSE Cos. Inc. said its first-quarter normalized net income was a loss of 3 cents per share, compared with a loss of 4 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 $418,540, compared with a loss of $483,890 in the prior-year period.

The normalized profit margin increased to negative 3.6% from negative 3.8% in the year-earlier period.

Total revenue fell 8.5% year over year to $11.8 million from $12.9 million, and total operating expenses fell 9.0% from the prior-year period to $12.3 million from $13.6 million.

Reported net income totaled a loss of $737,850, or a loss of 6 cents per share, compared to a loss of $857,200, or a loss of 7 cents per share, in the prior-year period.