AG&E Holdings Inc. said its third-quarter normalized net income amounted to a loss of 2 cents per share, compared with a loss of 3 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 $208,750, compared with a loss of $305,630 in the year-earlier period.

The normalized profit margin declined to negative 9.7% from negative 5.8% in the year-earlier period.

Total revenue declined 59.0% year over year to $2.2 million from $5.3 million, and total operating expenses fell 56.6% on an annual basis to $2.5 million from $5.7 million.

Reported net income came to a loss of $334,000, or a loss of 3 cents per share, compared to a loss of $2.3 million, or a loss of 20 cents per share, in the year-earlier period.