Cavitation Technologies Inc. said its normalized net income for the fiscal third quarter ended March 31 amounted to a loss of $137,430, compared with a loss of $33,110 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 161.7% from negative 9.9% in the year-earlier period.
Total revenue decreased 74.5% on an annual basis to $85,000 from $333,660, and total operating expenses decreased 21.1% from the prior-year period to $304,890 from $386,630.
Reported net income came to a loss of $219,890, or a loss of 0 cents per share, compared to a loss of $52,970, or a loss of 0 cents per share, in the year-earlier period.