Maiden Lane Jewelry Ltd. said its normalized net income for the fiscal first quarter ended Aug. 31 amounted to a loss of $106,890, compared with a loss of $79,160 in the prior-year period.

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

The normalized profit margin declined to negative 4.5% from negative 4.3% in the year-earlier period.

Total revenue rose 31.0% on an annual basis to $2.4 million from $1.8 million, and total operating expenses climbed 28.9% on an annual basis to $2.5 million from $1.9 million.

Reported net income totaled a loss of $155,720, or a loss of 1 cents per share, compared to a loss of $84,660, or a loss of 1 cents per share, in the prior-year period.