eMagin Corp. said its normalized net income for the first quarter amounted to $9,380, a decrease of 95.3% from $200,000 in the year-earlier period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
The normalized profit margin fell to 0.1% from 3.3% in the year-earlier period.
Total revenue rose 16.9% on an annual basis to $7.0 million from $6.0 million, and total operating expenses climbed 23.3% year over year to $7.0 million from $5.7 million.
Reported net income fell 95.7% from the prior-year period to $11,000, or 0 cents per share, from $257,480, or 1 cents per share.