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Omphalos swings to profit in Q1

Omphalos Corp. said its first-quarter normalized net income was $42,340, compared with a loss of $104,970 in the year-earlier period.

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

The normalized profit margin was 9.7%.

Total revenue increased on an annual basis to $437,280 from $3,510, and total operating expenses climbed on an annual basis to $368,560 from $171,880.

Reported net income came to $41,210, or 0 cents per share, compared to a loss of $167,950, or a loss of 1 cents per share, in the year-earlier period.