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Koss fiscal Q3 profit falls YOY

Koss Corp. said its normalized net income for the fiscal third quarter ended March 31 came to $4,130, a decrease of 94.3% from $73,050 in the prior-year period.

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

The normalized profit margin declined to 0.1% from 1.2% in the year-earlier period.

Total revenue came to $6.0 million, compared with $6.0 million in the prior-year period, and total operating expenses climbed from the prior-year period to $6.0 million from $5.9 million.

Reported net income increased on an annual basis to $869,690, or 12 cents per share, from $57,220, or 1 cents per share.