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China Jo-Jo Drugstores swings to profit in fiscal Q1

China Jo-Jo Drugstores Inc. said its normalized net income for the fiscal first quarter ended June 30 came to $120,500, compared with a loss of $206,360 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 0.6% from negative 1.3% in the year-earlier period.

Total revenue rose 29.5% on an annual basis to $21.3 million from $16.5 million, and total operating expenses increased 24.7% from the prior-year period to $21.0 million from $16.8 million.

Reported net income totaled $159,760, or 1 cents per share, compared to a loss of $288,320, or a loss of 2 cents per share, in the prior-year period.