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AG&E Holdings Q3 loss widens 74.9% YOY

AG&E Holdings Inc. said its third-quarter normalized net income came to a loss of 3 cents per share, compared with a loss of 2 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 a loss of $365,000, compared with a loss of $208,750 in the year-earlier period.

The normalized profit margin declined to negative 24.2% from negative 9.7% in the year-earlier period.

Total revenue declined 41.2% on an annual basis to $1.3 million from $2.2 million, and total operating expenses fell 25.6% year over year to $1.9 million from $2.5 million.

Reported net income came to a loss of $585,000, or a loss of 5 cents per share, compared to a loss of $334,000, or a loss of 3 cents per share, in the year-earlier period.