MoSys Inc. said its normalized net income for the first quarter was a loss of 59 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 80 cents per share.

The per-share loss decreased 35.8% year over year from 91 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $3.9 million, compared with a loss of $5.0 million in the year-earlier period.

The normalized profit margin was 265.7%.

Total revenue rose 87.0% on an annual basis to $1.5 million from $776,000, and total operating expenses fell 13.0% from the prior-year period to $7.6 million from $8.7 million.

Reported net income totaled a loss of $6.9 million, or a loss of $1.05 per share, compared to a loss of $8.0 million, or a loss of $1.47 per share, in the prior-year period.