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PAR Technology Q1 profit falls YOY

PAR Technology Corp. said its first-quarter normalized net income came to $14,380, a fall of 93.7% from $226,880 in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin declined to 0.0% from 0.4% in the year-earlier period.

Total revenue came to $55.3 million, compared with $55.2 million in the year-earlier period, and total operating expenses grew from the prior-year period to $55.2 million from $54.6 million.

Reported net income decreased 90.5% year over year to $15,000, or 0 cents per share, from $157,100, or 1 cents per share.