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Perceptron fiscal Q3 loss narrows YOY

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Perceptron fiscal Q3 loss narrows YOY

Perceptron Inc. said its normalized net income for the fiscal third quarter ended March 31 amounted to a loss of 7 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 23 cents per share.

The per-share loss narrowed 53.4% year over year from 16 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $697,500, compared with a loss of $1.5 million in the year-earlier period.

The normalized profit margin rose to negative 3.9% from negative 9.2% in the year-earlier period.

Total revenue climbed 11.7% on an annual basis to $18.1 million from $16.2 million, and total operating expenses climbed from the prior-year period to $19.3 million from $18.6 million.

Reported net income came to a loss of $2.9 million, or a loss of 31 cents per share, compared to a loss of $1.6 million, or a loss of 17 cents per share, in the year-earlier period.