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AG&E Holdings swings to loss in Q1

4988422 said its first-quarter normalized net income was a loss of $448,750, compared with income of $6,250 in the prior-year period.

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

The normalized profit margin fell to negative 19.1% from 0.1% in the year-earlier period.

Total revenue fell 57.7% year over year to $1.9 million from $4.6 million, and total operating expenses declined 41.9% from the prior-year period to $2.7 million from $4.6 million.

eported net income totaled a loss of $719,000, or a loss of 6 cents per share, compared to income of $6,000, or 0 cents per share, in the year-earlier period.AG&E Holdings Inc.

4988422 said its first-quarter normalized net income was a loss of $448,750, compared with income of $6,250 in the prior-year period.