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Koss swings to profit in fiscal Q3

Koss Corp. said its normalized net income for the fiscal third quarter ended March 31 amounted to $73,050, compared with a loss of $746,980 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 1.2% from negative 17.4% in the year-earlier period.

Total revenue rose 39.6% year over year to $6.0 million from $4.3 million, and total operating expenses grew 5.8% year over year to $5.9 million from $5.6 million.

Reported net income totaled $57,220, or 1 cents per share, compared to a loss of $25,120, or a loss of 0 cents per share, in the year-earlier period.