Lingo Media Corp. said its normalized net income for the first quarter came to C$39,690, a fall of 72.7% from C$145,360 in the prior-year period.

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

The normalized profit margin dropped to 5.2% from 22.3% in the year-earlier period.

Total revenue increased 16.1% year over year to C$756,860 from C$651,630, and total operating expenses declined 7.9% from the prior-year period to C$488,650 from C$530,460.

Reported net income declined 77.5% year over year to C$50,830, or 0 cents per share, from C$225,430, or 1 cents per share.