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Integrated Biopharma fiscal Q1 profit falls YOY

Integrated Biopharma said its normalized net income for the fiscal first quarter ended Sept. 30 was $168,130, a decrease of 37.7% from $270,000 in the year-earlier period.

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

The normalized profit margin declined to 1.8% from 3.1% in the year-earlier period.

Total revenue rose 10.1% year over year to $9.4 million from $8.6 million, and total operating expenses increased 10.2% from the prior-year period to $9.0 million from $8.1 million.

Reported net income decreased 29.2% year over year to $211,550, or 1 cent per share, from $299,000, or 1 cents per share.