InnerScope Hearing Technologies Inc. said its normalized net income for the first quarter was a loss of $6,570, compared with income of $21,300 in the year-earlier period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
The normalized profit margin dropped to negative 3.4% from 10.1% in the year-earlier period.
Total revenue declined 9.0% on an annual basis to $192,000 from $211,070, and total operating expenses grew 14.4% from the prior-year period to $202,590 from $177,070.
Reported net income totaled a loss of $10,510, or a loss of 0 cents per share, compared to income of $34,080, or 0 cents per share, in the year-earlier period.