According to a quick item from David Angotti for Search Engine Land, Facebook reported that its net income fell 12 percent in the first quarter of 2012. Looking at the previous quarter’s total revenues, the latest quarter saw total revenues fall six percent, to $1.06 billion. That may not be cause for serious concern, however – especially when you consider that the previous quarter included the holiday shopping season, and Facebook makes its money from ads. Indeed, the company itself noted that the downturn was due to seasonal trends. Compare Facebook’s revenues to the year-ago quarter, and …