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Intrusion Q1 loss widens 75.5% YOY

Intrusion Inc. said its normalized net income for the first quarter amounted to 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 $340,000, compared with a loss of $193,750 in the prior-year period.

The normalized profit margin declined to negative 22.5% from negative 11.3% in the year-earlier period.

Total revenue fell 11.8% year over year to $1.5 million from $1.7 million, and total operating expenses grew on an annual basis to $2.0 million from $2.0 million.

Reported net income came to a loss of $635,150, or a loss of 5 cents per share, compared to a loss of $376,650, or a loss of 3 cents per share, in the year-earlier period.