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PCI Ltd. fiscal Q2 profit falls YOY

PCI Ltd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2015, was $905,500, a decrease of 43.2% from $1.6 million in the year-earlier period.

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

The normalized profit margin declined to 2.0% from 3.4% in the year-earlier period.

Total revenue declined 6.6% on an annual basis to $44.3 million from $47.5 million, and total operating expenses decreased on an annual basis to $43.3 million from $44.3 million.

Reported net income fell 34.1% on an annual basis to $1.4 million, or 1 cents per share, from $2.1 million, or 1 cents per share.