ValueSetters Inc. said its normalized net income for the fiscal third quarter ended Jan. 31 came to a loss of $200,650, compared with a loss of $7,240 in the prior-year period.

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

Total revenue grew on an annual basis to $182,850 from $2,270, and total operating expenses climbed from the prior-year period to $348,360 from $9,500.

Reported net income totaled a loss of $321,040, or a loss of 0 cents per share, compared to a loss of $11,590, or a loss of 0 cents per share, in the year-earlier period.