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Perceptron swings to loss in fiscal Q2

Perceptron Inc. said its normalized net income for the fiscal second quarter ended Dec. 31, 2015, came to a loss of 14 cents per share, compared with the S&P Capital IQ consensus estimate of 3 cents per share.

The per-share result swung to a loss from the prior-year profit of 28 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $1.3 million, compared with income of $2.6 million in the year-earlier period.

The normalized profit margin dropped to negative 7.8% from 11.0% in the year-earlier period.

Total revenue fell 27.0% year over year to $17.2 million from $23.6 million, and total operating expenses climbed year over year to $19.5 million from $19.2 million.

Reported net income totaled a loss of $1.6 million, or a loss of 17 cents per share, compared to income of $2.8 million, or 30 cents per share, in the prior-year period.