Cyanotech Corp. said its normalized net income for the fiscal first quarter ended June 30 was a loss of $3,130, compared with a loss of $613,750 in the year-earlier period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
The normalized profit margin climbed to negative 0.0% from negative 8.1% in the year-earlier period.
Total revenue totaled $7.6 million, compared with $7.6 million in the prior-year period, and total operating expenses fell 11.7% on an annual basis to $7.6 million from $8.6 million.
Reported net income totaled a loss of $111,300, or a loss of 2 cents per share, compared to a loss of $384,160, or a loss of 7 cents per share, in the prior-year period.