DGSE Cos. Inc. said its first-quarter normalized net income was a loss of 4 cents per share, compared with a loss of 1 cents per share in the prior-year period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $483,890, compared with a loss of $175,630 in the year-earlier period.
The normalized profit margin fell to negative 3.8% from negative 1.0% in the year-earlier period.
Total revenue fell 28.7% year over year to $12.9 million from $18.1 million, and total operating expenses decreased 25.8% on an annual basis to $13.6 million from $18.3 million.
Reported net income came to a loss of $857,200, or a loss of 7 cents per share, compared to a loss of $243,880, or a loss of 2 cents per share, in the year-earlier period.
