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ICTV Brands Q2 profit climbs 80.4% YOY

ICTV Brands Inc. said its second-quarter normalized net income amounted to $179,140, an increase of 80.4% from $99,320 in the prior-year period.

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

The normalized profit margin climbed to 2.5% from 1.3% in the year-earlier period.

Total revenue decreased 7.1% on an annual basis to $7.3 million from $7.8 million, and total operating expenses fell 8.9% from the prior-year period to $7.0 million from $7.7 million.

Reported net income grew 65.0% from the prior-year period to $265,610, or 1 cent per share, from $160,980, or 1 cents per share.