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Taitron Components swings to profit in Q1

Taitron Components Inc. said its normalized net income for the first quarter was $20,500, compared with a loss of $149,500 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 11.6% in the year-earlier period.

Total revenue climbed 29.4% on an annual basis to $1.7 million from $1.3 million, and total operating expenses grew 5.5% year over year to $1.6 million from $1.6 million.

Reported net income came to a loss of $43,000, or a loss of 1 cents per share, compared to a loss of $329,000, or a loss of 6 cents per share, in the prior-year period.