Value Exchange International Inc. said its first-quarter normalized net income was a loss of $12,820, compared with a loss of $148,580 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 negative 1.3% from negative 29.5% in the year-earlier period.
Total revenue increased 94.2% on an annual basis to $979,220 from $504,120, and total operating expenses increased 34.7% from the prior-year period to $1.0 million from $748,490.
Reported net income totaled a loss of $20,520, or a loss of 0 cents per share, compared to a loss of $237,730, or a loss of 1 cents per share, in the prior-year period.