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Universal Detection Technology Q1 loss narrows YOY

Universal Detection Technology said its normalized net income for the first quarter amounted to a loss of 2 cents per share, compared with a loss of 2 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $25,170, compared with a loss of $29,700 in the year-earlier period.

Reported net income totaled a loss of $40,270, or a loss of 3 cents per share, compared to a loss of $47,530, or a loss of 3 cents per share, in the year-earlier period.