Emerson Padio said its normalized net income for the fiscal fourth quarter ended March 31 was $183,750, a decrease of 75.4% from $747,500 in the year-earlier period.

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

The normalized profit margin dropped to 1.4% from 5.3% in the year-earlier period.

Total revenue decreased 5.3% on an annual basis to $13.2 million from $14.0 million, and total operating expenses totaled $13.0 million, compared with $12.9 million in the year-earlier period.

Reported net income totaled a loss of $1.6 million, or a loss of 6 cents per share, compared to income of $1.1 million, or 3 cents per share, in the prior-year period.

For the year, the company's normalized net income totaled 11 cents per share, a fall of 15.5% from 14 cents per share in the prior year.

Normalized net income was $3.1 million, a decline of 15.5% from $3.7 million in the prior year.

Full-year total revenue declined on an annual basis to $76.3 million from $77.8 million, and total operating expenses fell on an annual basis to $71.6 million from $72.5 million.

The company said reported net income increased 40.0% year over year to $1.9 million, or 7 cents per share, in the full year, from $1.4 million, or 5 cents per share.