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Astea International Q1 loss narrows YOY

Astea International Inc. said its normalized net income for the first quarter came to a loss of 12 cents per share, compared with a loss of 14 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 $428,130, compared with a loss of $488,130 in the year-earlier period.

The normalized profit margin rose to negative 8.0% from negative 8.3% in the year-earlier period.

Total revenue decreased 8.7% on an annual basis to $5.3 million from $5.9 million, and total operating expenses declined 9.0% year over year to $6.0 million from $6.6 million.

Reported net income totaled a loss of $822,000, or a loss of 23 cents per share, compared to a loss of $918,000, or a loss of 26 cents per share, in the prior-year period.