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CTI Industries swings to loss in Q3

4666749 said its normalized net income for the third quarter was a loss of 4 cents per share, compared with 6 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $140,590, compared with income of $216,120 in the year-earlier period.

The normalized profit margin dropped to negative 1.0% from 1.5% in the year-earlier period.

otal revenue fell 9.4% on an annual basis to $13.5 million from $14.9 million, and total operating expenses fell 5.2% on an annual basis to $13.4 million from $14 CTI Industries Corp.