Crawford United Corp. said its normalized net income for the fiscal second quarter ended March 31 was a loss of 18 cents per share, compared with a loss of 11 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 $290,280, compared with a loss of $172,910 in the year-earlier period.
The normalized profit margin dropped to negative 27.7% from negative 15.8% in the year-earlier period.
Total revenue decreased year over year to $1.0 million from $1.1 million, and total operating expenses climbed 10.2% year over year to $1.5 million from $1.4 million.
Reported net income totaled a loss of $458,700, or a loss of 28 cents per share, compared to a loss of $278,500, or a loss of 17 cents per share, in the prior-year period.