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U.S. Auto Parts Network fiscal Q1 profit falls YOY

U.S. Auto Parts Network Inc. said its normalized net income for the fiscal first quarter ended April 4 amounted to $17,880, a decrease of 87.7% from $145,630 in the first quarter ended March 29, 2014.

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

The normalized profit margin dropped to 0.0% from 0.2% in the year-earlier period.

Total revenue increased 12.3% on an annual basis to $76.4 million from $68.0 million, and total operating expenses climbed 13.1% from the prior-year period to $76.4 million from $67.5 million.

Reported net income totaled a loss of $120,000, or a loss of 0 cents per share, compared to income of $142,000, or 0 cents per share, in the first quarter ended March 29, 2014.