Alpine 4 Technologies Ltd. said its normalized net income for the first quarter was a loss of $181,400, compared with income of $52,920 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 5.7% from 2.9% in the year-earlier period.

Total revenue fell 99.6% year over year to $7,120 from $1.8 million, and total operating expenses fell 90.5% from the prior-year period to $167,230 from $1.8 million.

Reported net income came to a loss of $290,240, or a loss of 2 cents per share, compared to income of $47,550, or 1 cents per share, in the year-earlier period.