Provision Holding Inc. said its normalized net income for the fiscal third quarter ended March 31 amounted to a loss of $571,090, compared with a loss of $87,510 in the year-earlier period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
The normalized profit margin rose to negative 28.2% from negative 50.8% in the year-earlier period.
Total revenue climbed on an annual basis to $2.0 million from $172,260, and total operating expenses grew year over year to $2.5 million from $310,490.
Reported net income came to a loss of $913,740, or a loss of 1 cents per share, compared to a loss of $66,450, or a loss of 0 cents per share, in the year-earlier period.