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ICTV Brands swings to loss in Q2

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ICTV Brands swings to loss in Q2

ICTV Brands Inc. said its second-quarter normalized net income came to a loss of $375,730, compared with income of $179,140 in the year-earlier period.

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

The normalized profit margin fell to negative 8.3% from 2.5% in the year-earlier period.

Total revenue decreased 37.4% on an annual basis to $4.5 million from $7.3 million, and total operating expenses declined 26.3% year over year to $5.1 million from $7.0 million.

Reported net income came to a loss of $564,060, or a loss of 2 cents per share, compared to income of $265,610, or 1 cents per share, in the year-earlier period.