Network-1 Technologies, Inc. (NTIP) has reported a 40.63 percent plunge in profit for the quarter ended Mar. 31, 2017. The company has earned $2.27 million, or $0.09 a share in the quarter, compared with $3.82 million, or $0.16 a share for the same period last year. Revenue during the quarter grew 19.87 percent to $6.22 million from $5.19 million in the previous year period. Gross margin for the quarter contracted 17 basis points over the previous year period to 71.19 percent. Total expenses were 47.71 percent of quarterly revenues, down from 53.31 percent for the same period last year. This has led to an improvement of 560 basis points in operating margin to 52.29 percent.
Operating income for the quarter was $3.25 million, compared with $2.42 million in the previous year period.
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