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3Pea International swings to profit in Q1

PaySign Inc. said its normalized net income for the first quarter amounted to $67,160, compared with a loss of $286,910 in the prior-year period.

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

The normalized profit margin increased to 3.1% from negative 17.9% in the year-earlier period.

Total revenue increased 36.5% year over year to $2.2 million from $1.6 million, and total operating expenses grew 5.2% on an annual basis to $2.1 million from $2.0 million.

Reported net income totaled $81,940, or 0 cents per share, compared to a loss of $441,800, or a loss of 1 cents per share, in the year-earlier period.