Koda Ltd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2015, amounted to $537,500, a fall of 5.9% from $571,130 in the year-earlier period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
The normalized profit margin increased to 5.4% from 4.5% in the year-earlier period.
Total revenue fell 21.2% year over year to $10.0 million from $12.7 million, and total operating expenses decreased 21.5% on an annual basis to $9.5 million from $12.1 million.
Reported net income grew 17.9% from the prior-year period to $612,000, or 1 cents per share, from $519,000, or 1 cents per share.