United-Guardian, Inc. said its normalized net income for the first quarter came to 29 cents per share, a gain of 9.0% from 26 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 $1.3 million, a gain of 9.0% from $1.2 million in the year-earlier period.
The normalized profit margin fell to 30.3% from 30.7% in the year-earlier period.
Total revenue grew 10.4% on an annual basis to $4.4 million from $4.0 million, and total operating expenses rose 12.6% year over year to $2.3 million from $2.0 million.
Reported net income grew 9.3% on an annual basis to $1.5 million, or 32 cents per share, from $1.3 million, or 29 cents per share.