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Integrated Biopharma fiscal Q2 profit climbs 34.1% YOY

Integrated Biopharma said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, was $383,750, a gain of 34.1% from $286,250 in the year-earlier period.

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

The normalized profit margin rose to 3.7% from 3.3% in the year-earlier period.

Total revenue increased 17.1% year over year to $10.3 million from $8.8 million, and total operating expenses climbed 21.1% from the prior-year period to $9.9 million from $8.2 million.

Reported net income declined 50.5% on an annual basis to $210,000, or 1 cents per share, from $424,000, or 1 cents per share.