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ICTV Brands Q1 loss narrows YOY

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ICTV Brands Q1 loss narrows YOY

ICTV Brands Inc. said its first-quarter normalized net income was a loss of $55,420, compared with a loss of $168,870 in the year-earlier period.

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

The normalized profit margin climbed to negative 1.5% from negative 1.9% in the year-earlier period.

Total revenue decreased 58.0% year over year to $3.7 million from $8.9 million, and total operating expenses declined 58.3% on an annual basis to $3.8 million from $9.1 million.

Reported net income came to a loss of $88,680, or a loss of 0 cents per share, compared to a loss of $239,140, or a loss of 1 cents per share, in the prior-year period.