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XsunX fiscal Q1 loss narrows YOY

XsunX Inc. said its normalized net income for the fiscal first quarter ended Dec. 31, 2015, was a loss of $69,850, compared with a loss of $93,410 in the prior-year period.

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

The normalized profit margin increased to negative 34.4% from negative 38.4% in the year-earlier period.

Total revenue fell 16.4% on an annual basis to $203,230 from $243,210, and total operating expenses declined 15.5% year over year to $284,230 from $336,390.

Reported net income totaled a loss of $31,420, or a loss of 0 cents per share, compared to income of $23,120, or 0 cents per share, in the prior-year period.