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Franklin Wireless fiscal Q2 profit climbs 9.9% YOY

Franklin Wireless Corp. said its normalized net income for the fiscal second quarter ended Dec. 31, 2015, came to 3 cents per share, an increase of 9.7% from 3 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 $334,270, a gain of 9.9% from $304,150 in the prior-year period.

The normalized profit margin dropped to 1.7% from 2.4% in the year-earlier period.

Total revenue rose 61.4% on an annual basis to $20.2 million from $12.5 million, and total operating expenses grew 59.1% on an annual basis to $19.1 million from $12.0 million.

Reported net income increased 50.2% on an annual basis to $640,680, or 6 cents per share, from $426,480, or 4 cents per share.