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Koss fiscal Q1 loss widens 5.9% YOY

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Koss fiscal Q1 loss widens 5.9% YOY

Koss Corp. said its normalized net income for the fiscal first quarter ended Sept. 30 amounted to a loss of 1 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 $101,380, compared with a loss of $95,690 in the year-earlier period.

The normalized profit margin climbed to negative 1.4% from negative 1.7% in the year-earlier period.

Total revenue rose on an annual basis to $5.5 million from $5.5 million, and total operating expenses rose from the prior-year period to $5.7 million from $5.6 million.

Reported net income came to a loss of $100,800, or a loss of 1 cents per share, compared to a loss of $95,000, or a loss of 1 cents per share, in the year-earlier period.