NVE Corp. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, amounted to 49 cents per share, a decrease of 7.1% from 53 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 $2.4 million, a decline of 7.6% from $2.6 million in the year-earlier period.
The normalized profit margin dropped to 39.8% from 41.2% in the year-earlier period.
Total revenue decreased year over year to $6.0 million from $6.3 million, and total operating expenses fell year over year to $2.7 million from $2.7 million.
Reported net income fell 7.6% from the prior-year period to $2.6 million, or 53 cents per share, from $2.8 million, or 57 cents per share.
