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Tapinator swings to loss in Q1

Tapinator Inc. said its normalized net income for the first quarter was a loss of $249,030, compared with income of $5,620 in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin declined to negative 29.3% from 1.4% in the year-earlier period.

Total revenue grew year over year to $848,610 from $411,880, and total operating expenses climbed on an annual basis to $841,720 from $349,640.

Reported net income came to a loss of $570,810, or a loss of 1 cents per share, compared to income of $5,840, or 0 cents per share, in the year-earlier period.