DASAN Zhone Solutions Inc. said its first-quarter normalized net income came to a loss of $2.6 million, compared with income of $194,380 in the year-earlier period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
The normalized profit margin dropped to negative 10.8% from 0.5% in the year-earlier period.
Total revenue decreased 33.4% on an annual basis to $25.8 million from $38.7 million, and total operating expenses declined 22.7% year over year to $29.8 million from $38.6 million.
Reported net income totaled a loss of $3.5 million, or a loss of 5 cents per share, compared to income of $388,000, or 1 cents per share, in the year-earlier period.