Cambium Learning Group Inc. said its normalized net income for the first quarter was a loss of 3 cents per share, compared with a loss of 9 cents per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $1.5 million, compared with a loss of $3.9 million in the year-earlier period.
The normalized profit margin climbed to negative 4.7% from negative 12.7% in the year-earlier period.
Total revenue increased on an annual basis to $31.5 million from $31.1 million, and total operating expenses declined 7.5% on an annual basis to $30.4 million from $32.9 million.
Reported net income came to a loss of $2.3 million, or a loss of 5 cents per share, compared to a loss of $6.4 million, or a loss of 14 cents per share, in the prior-year period.
