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Deswell Industries fiscal Q3 loss narrows YOY

Deswell Industries Inc. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, amounted to a loss of $138,750, compared with a loss of $701,250 in the prior-year period.

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

The normalized profit margin rose to negative 1.1% from negative 6.5% in the year-earlier period.

Total revenue grew 15.5% on an annual basis to $12.5 million from $10.8 million, and total operating expenses grew 6.3% from the prior-year period to $13.3 million from $12.5 million.

Reported net income totaled a loss of $305,060, or a loss of 2 cents per share, compared to a loss of $1.1 million, or a loss of 7 cents per share, in the year-earlier period.