Collectors Universe Inc. said its normalized net income for the fiscal first quarter ended Sept. 30 was 23 cents per share, a gain from 22 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 $2.0 million, a gain from $1.9 million in the year-earlier period.

The normalized profit margin climbed to 13.5% from 11.7% in the year-earlier period.

Total revenue declined 9.6% year over year to $14.6 million from $16.2 million, and total operating expenses declined 13.2% on an annual basis to $11.4 million from $13.2 million.

Reported net income rose 9.9% from the prior-year period to $2.0 million, or 23 cents per share, from $1.8 million, or 21 cents per share.