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Cambium Learning Q3 profit climbs YOY

Cambium Learning Group Inc. said its normalized net income for the third quarter was 3 cents per share, a gain from 1 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 $1.4 million, a gain from $654,380 in the prior-year period.

The normalized profit margin climbed to 3.4% from 1.6% in the year-earlier period.

Total revenue declined year over year to $40.3 million from $41.1 million, and total operating expenses declined on an annual basis to $34.8 million from $36.3 million.

Reported net income rose year over year to $1.9 million, or 4 cents per share, from $915,060, or 2 cents per share.