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CTI Industries Q3 profit falls YOY

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CTI Industries Q3 profit falls YOY

CTI Industries Corp. said its third-quarter normalized net income came to 6 cents per share, a decrease from 6 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $216,120, a decline from $222,460 in the prior-year period.

The normalized profit margin declined to 1.5% from 1.5% in the year-earlier period.

Total revenue climbed year over year to $14.9 million from $14.6 million, and total operating expenses totaled $14.2 million, compared with $14.1 million in the year-earlier period.

Reported net income totaled $206,810, or 6 cents per share, compared to $207,020, or 6 cents per share, in the prior-year period.