Asian Television Network International Ltd. said its first-quarter normalized net income was C$183,510, a fall of 40.8% from C$310,080 in the year-earlier period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
The normalized profit margin dropped to 3.0% from 5.0% in the year-earlier period.
Total revenue decreased on an annual basis to C$6.1 million from C$6.2 million, and total operating expenses climbed year over year to C$5.8 million from C$5.7 million.
Reported net income came to C$244,030, or 1 cents per share, compared to C$244,030, or 1 cents per share, in the prior-year period.