Appliance Recycling Centers of America Inc. said its normalized net income for the fiscal first quarter ended April 2 came to a loss of 7 cents per share, compared with a loss of 22 cents per share in the prior-year period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $414,750, compared with a loss of $1.3 million in the year-earlier period.
The normalized profit margin increased to negative 1.6% from negative 4.6% in the year-earlier period.
Total revenue declined 8.0% year over year to $25.3 million from $27.5 million, and total operating expenses declined 11.5% from the prior-year period to $26.1 million from $29.5 million.
Reported net income totaled a loss of $472,080, or a loss of 8 cents per share, compared to a loss of $1.7 million, or a loss of 29 cents per share, in the year-earlier period.