AG&E Holdings Inc. said its second-quarter normalized net income was a loss of $543,750, compared with income of $110,630 in the year-earlier period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
The normalized profit margin declined to negative 27.1% from 2.0% in the year-earlier period.
Total revenue fell 74.2% year over year to $1.4 million from $5.4 million, and total operating expenses fell 56.9% year over year to $2.3 million from $5.3 million.
Reported net income came to a loss of $837,000, or a loss of 7 cents per share, compared to income of $177,000, or 2 cents per share, in the prior-year period.