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CrowdGather fiscal Q3 loss narrows YOY

CrowdGather Inc. said its normalized net income for the fiscal third quarter ended Jan. 31 came to a loss of $472,500, compared with a loss of $1.0 million in the prior-year period.

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

The normalized profit margin increased to negative 91.6% from negative 148.3% in the year-earlier period.

Total revenue decreased 25.3% on an annual basis to $516,000 from $691,000, and total operating expenses fell 51.6% from the prior-year period to $868,000 from $1.8 million.

Reported net income came to a loss of $756,000, or a loss of 1 cents per share, compared to a loss of $1.6 million, or a loss of 1 cents per share, in the prior-year period.