Crystal Rock Holdings Inc. said its normalized net income for the fiscal first quarter ended Jan. 31 was 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 $461,190, compared with a loss of $718,300 in the year-earlier period.
The normalized profit margin increased to negative 2.6% from negative 3.9% in the year-earlier period.
Total revenue declined year over year to $17.7 million from $18.4 million, and total operating expenses fell 6.0% year over year to $18.1 million from $19.2 million.
Reported net income totaled a loss of $427,170, or a loss of 2 cents per share, compared to a loss of $854,420, or a loss of 4 cents per share, in the prior-year period.
