FullCircle Registry Inc. said its first-quarter normalized net income amounted to a loss of $99,870, compared with a loss of $134,140 in the prior-year period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
The normalized profit margin increased to negative 40.2% from negative 42.4% in the year-earlier period.
Total revenue declined 21.4% on an annual basis to $248,580 from $316,080, and total operating expenses fell 27.7% year over year to $321,280 from $444,230.
Reported net income totaled a loss of $214,880, or a loss of 0 cents per share, compared to a loss of $175,820, or a loss of 0 cents per share, in the prior-year period.