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.
