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Electronic Systems Technology Q1 loss narrows YOY


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Electronic Systems Technology Q1 loss narrows YOY

Electronic Systems Technology Inc. said its first-quarter normalized net income was a loss of $5,890, compared with a loss of $55,910 in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin rose to negative 1.3% from negative 12.4% in the year-earlier period.

Total revenue climbed on an annual basis to $467,650 from $449,870, and total operating expenses fell 11.5% from the prior-year period to $479,960 from $542,080.

Reported net income totaled a loss of $9,830, or a loss of 0 cents per share, compared to a loss of $97,050, or a loss of 2 cents per share, in the prior-year period.