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Salon Media fiscal Q3 loss narrows YOY

Salon Media Group Inc. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, amounted to a loss of $156,880, compared with a loss of $501,880 in the prior-year period.

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

The normalized profit margin climbed to negative 8.0% from negative 34.1% in the year-earlier period.

Total revenue increased 32.4% on an annual basis to $1.9 million from $1.5 million, and total operating expenses fell on an annual basis to $2.2 million from $2.3 million.

Reported net income came to a loss of $251,000, or a loss of 0 cents per share, compared to a loss of $803,000, or a loss of 1 cents per share, in the prior-year period.