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Fuse Enterprises fiscal Q1 profit falls YOY

Fuse Group Holding Inc. said its normalized net income for the fiscal first quarter ended Dec. 31, 2015, was $540, a decrease of 74.2% from $2,090 in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin fell to 8.2% from 19.5% in the year-earlier period.

Total revenue declined 39.3% on an annual basis to $6,500 from $10,700, and total operating expenses declined 23.4% on an annual basis to $5,640 from $7,360.

Reported net income fell 74.3% on an annual basis to $860, or 0 cents per share, from $3,340, or 0 cents per share.