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China Jo-Jo Drugstores fiscal Q1 loss narrows YOY

China Jo-Jo Drugstores Inc. said its normalized net income for the fiscal first quarter ended June 30 amounted to a loss of 1 cents per share, compared with a loss of 3 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 $206,360, compared with a loss of $467,410 in the prior-year period.

The normalized profit margin increased to negative 1.3% from negative 3.0% in the year-earlier period.

Total revenue increased 7.3% on an annual basis to $16.5 million from $15.3 million, and total operating expenses climbed on an annual basis to $16.8 million from $16.1 million.

Reported net income totaled a loss of $288,320, or a loss of 2 cents per share, compared to a loss of $816,540, or a loss of 6 cents per share, in the prior-year period.