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Emerson Padio swings to loss in fiscal Q3

Emerson Radio Corp. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, amounted to a loss of $4,380, compared with income of $2.3 million in the prior-year period.

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

The normalized profit margin declined to negative 0.0% from 10.2% in the year-earlier period.

Total revenue fell 60.0% on an annual basis to $9.2 million from $22.9 million, and total operating expenses declined 52.1% year over year to $9.2 million from $19.2 million.

Reported net income came to a loss of $66,000, or a loss of 0 cents per share, compared to income of $3.0 million, or 11 cents per share, in the year-earlier period.