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Immunotec fiscal Q1 profit climbs 37.1% YOY

Immunotec Inc. said its normalized net income for the fiscal first quarter ended Jan. 31 amounted to C$817,260, an increase of 37.1% from C$596,280 in the year-earlier period.

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

The normalized profit margin rose to 4.6% from 3.7% in the year-earlier period.

Total revenue grew 10.9% on an annual basis to C$17.9 million from C$16.2 million, and total operating expenses increased 8.8% from the prior-year period to C$17.0 million from C$15.6 million.

Reported net income totaled C$689,390, or 1 cents per share, compared to C$691,300, or 1 cents per share, in the prior-year period.