Microwave Filter Co. Inc. said its normalized net income for the fiscal first quarter ended Dec. 31, 2015, was a loss of 3 cents per share, compared with a loss of 2 cents per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $64,590, compared with a loss of $58,770 in the prior-year period.
The normalized profit margin fell to negative 8.4% from negative 6.9% in the year-earlier period.
Total revenue fell 9.7% year over year to $767,550 from $849,930, and total operating expenses declined 7.7% from the prior-year period to $867,910 from $940,000.
Reported net income came to a loss of $103,350, or a loss of 4 cents per share, compared to a loss of $94,030, or a loss of 4 cents per share, in the prior-year period.
