Paybox Corp. said its first-quarter normalized net income amounted to $1.07 per share, an increase of 30.9% from 82 cents per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $69,380, a gain of 32.2% from $52,500 in the prior-year period.
The normalized profit margin increased to 3.9% from 2.5% in the year-earlier period.
Total revenue fell 13.8% year over year to $1.8 million from $2.1 million, and total operating expenses decreased 15.8% from the prior-year period to $1.7 million from $2.0 million.
Reported net income came to $129,280, or $1.72 per share, compared to $128,020, or $1.25 per share, in the prior-year period.