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Video Display fiscal Q3 loss widens YOY

Video Display Corp. said its normalized net income for the fiscal third quarter ended Nov. 30, 2015, was a loss of 20 cents per share, compared with a loss of 5 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 $1.2 million, compared with a loss of $285,000 in the year-earlier period.

The normalized profit margin fell to negative 50.0% from negative 8.0% in the year-earlier period.

Total revenue declined 32.9% year over year to $2.4 million from $3.6 million, and total operating expenses came to $4.3 million, compared with $4.3 million in the prior-year period.

Reported net income came to a loss of $2.1 million, or a loss of 35 cents per share, compared to a loss of $2.8 million, or a loss of 45 cents per share, in the prior-year period.