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Applied DNA Sciences fiscal Q1 loss narrows YOY

Applied DNA Sciences Inc. said its normalized net income for the fiscal first quarter ended Dec. 31, 2015, came to a loss of 8 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 9 cents per share.

The per-share loss decreased 70.7% year over year from 28 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $1.8 million, compared with a loss of $4.3 million in the prior-year period.

The normalized profit margin was 138.1%.

Total revenue climbed 6.6% on an annual basis to $1.3 million from $1.2 million, and total operating expenses decreased 16.1% from the prior-year period to $4.2 million from $5.1 million.

Reported net income totaled a loss of $2.9 million, or a loss of 13 cents per share, compared to a loss of $7.8 million, or a loss of 51 cents per share, in the year-earlier period.