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CTI Industries Q1 profit climbs YOY

CTI Industries Corp. said its normalized net income for the first quarter was 8 cents per share, an increase from 1 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 $265,740, a gain from $36,020 in the prior-year period.

The normalized profit margin increased to 1.8% from 0.2% in the year-earlier period.

Total revenue came to $15.0 million, compared with $14.9 million in the prior-year period, and total operating expenses fell from the prior-year period to $14.1 million from $14.6 million.

Reported net income grew year over year to $275,900, or 8 cents per share, from $34,140, or 1 cents per share.