Koda Ltd. said its normalized net income for the fiscal third quarter ended March 31 was a loss of $335,750, compared with a loss of $676,500 in the prior-year period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
The normalized profit margin climbed to negative 3.4% from negative 6.0% in the year-earlier period.
Total revenue decreased 12.3% on an annual basis to $9.9 million from $11.3 million, and total operating expenses fell 11.6% on an annual basis to $11.1 million from $12.5 million.
Reported net income totaled a loss of $1.1 million, or a loss of 1 cents per share, compared to a loss of $1.1 million, or a loss of 1 cents per share, in the year-earlier period.
