Mewah International Inc. said its normalized net income for the first quarter came to $1.7 million, a rise from $756,130 in the prior-year period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
The normalized profit margin rose to 0.2% from 0.1% in the year-earlier period.
Total revenue fell 15.0% on an annual basis to $692.6 million from $814.4 million, and total operating expenses fell 16.8% year over year to $674.6 million from $811.2 million.
Reported net income increased from the prior-year period to $2.2 million, or 0 cents per share, from $995,000, or 0 cents per share.
