Tadir-Gan (Precision Products) 1993 Ltd. said its first-quarter normalized net income amounted to a loss of $655,000, compared with a loss of $1.2 million in the prior-year period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
The normalized profit margin rose to negative 3.4% from negative 6.2% in the year-earlier period.
Total revenue came to $19.3 million, compared with $19.3 million in the year-earlier period, and total operating expenses grew year over year to $20.6 million from $20.0 million.
Reported net income came to a loss of $414,000, or a loss of 0 cents per share, compared to a loss of $1.8 million, or a loss of 1 cents per share, in the year-earlier period.