Celsius Holdings Inc. said its first-quarter normalized net income amounted to a loss of $750,350, compared with income of $153,570 in the prior-year period.

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

The normalized profit margin declined to negative 20.4% from 3.3% in the year-earlier period.

Total revenue fell 20.9% on an annual basis to $3.7 million from $4.6 million, and total operating expenses climbed 12.9% year over year to $4.8 million from $4.3 million.

Reported net income came to a loss of $1.2 million, or a loss of 3 cents per share, compared to income of $315,690, or 1 cents per share, in the prior-year period.