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Crystal Rock Holdings fiscal Q1 loss narrows YOY

Crystal Rock Holdings Inc. said its normalized net income for the fiscal first quarter ended Jan. 31 amounted to a loss of $32,570, compared with a loss of $461,190 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 negative 0.2% from negative 2.6% in the year-earlier period.

Total revenue declined 8.9% on an annual basis to $16.1 million from $17.7 million, and total operating expenses declined 12.5% on an annual basis to $15.8 million from $18.1 million.

Reported net income came to a loss of $29,530, or a loss of 0 cents per share, compared to a loss of $427,170, or a loss of 2 cents per share, in the year-earlier period.