Inphi Corp. said its normalized net income for the first quarter came to $36,880, compared with a loss of $981,250 in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin dropped to negative 2.8% from negative 2.3% in the year-earlier period.

Total revenue climbed 54.9% on an annual basis to $66.5 million from $42.9 million, and total operating expenses climbed 43.2% on an annual basis to $64.0 million from $44.7 million.

Reported net income came to $434,210, or 1 cents per share, compared to a loss of $11.4 million, or a loss of 30 cents per share, in the prior-year period.