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RF Industries swings to loss in fiscal Q1

RF Industries Ltd. said its normalized net income for the fiscal first quarter ended Jan. 31 was a loss of $381,880, compared with income of $19,380 in the year-earlier period.

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

The normalized profit margin fell to negative 5.3% from 0.3% in the year-earlier period.

Total revenue increased on an annual basis to $7.0 million from $6.9 million, and total operating expenses rose 10.6% year over year to $7.6 million from $6.9 million.

Reported net income totaled a loss of $348,670, or a loss of 4 cents per share, compared to income of $86,680, or 1 cents per share, in the year-earlier period.