United-Guardian, Inc. said its normalized net income for the third quarter came to 18 cents per share, a decrease of 25.9% from 24 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 $818,180, a decline of 26.0% from $1.1 million in the prior-year period.

The normalized profit margin dropped to 23.7% from 30.5% in the year-earlier period.

Total revenue decreased year over year to $3.5 million from $3.6 million, and total operating expenses climbed 14.9% on an annual basis to $2.2 million from $1.9 million.

Reported net income fell 26.1% year over year to $900,140, or 20 cents per share, from $1.2 million, or 26 cents per share.