Ricebran Technologies said its first-quarter normalized net income amounted to a loss of 6 cents per share, compared with a loss of 18 cents per share in the prior-year period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $522,000, compared with a loss of $1.6 million in the year-earlier period.
The normalized profit margin fell to negative 29.6% from negative 17.0% in the year-earlier period.
Total revenue rose year over year to $10.1 million from $9.7 million, and total operating expenses fell 10.0% from the prior-year period to $11.3 million from $12.6 million.
Reported net income came to a loss of $276,470, or a loss of 3 cents per share, compared to a loss of $3.0 million, or a loss of 33 cents per share, in the prior-year period.