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IEH Corp. fiscal Q3 profit falls YOY

IEH Corp. said its normalized net income for the fiscal third quarter ended Dec. 25, 2015, amounted to 18 cents per share, a decline of 37.9% from 29 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 $421,650, a decline of 37.9% from $678,500 in the year-earlier period.

The normalized profit margin dropped to 9.1% from 14.4% in the year-earlier period.

Total revenue declined on an annual basis to $4.7 million from $4.7 million, and total operating expenses rose 9.4% from the prior-year period to $4.0 million from $3.6 million.

Reported net income decreased 28.7% on an annual basis to $423,680, or 18 cents per share, from $594,340, or 26 cents per share.