Xcel Brands Inc. said its first-quarter normalized net income amounted to a loss of $60,000, compared with income of $241,880 in the year-earlier period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
The normalized profit margin declined to negative 0.7% from 3.7% in the year-earlier period.
Total revenue increased 27.3% on an annual basis to $8.4 million from $6.6 million, and total operating expenses grew 41.5% from the prior-year period to $8.1 million from $5.7 million.
Reported net income totaled a loss of $45,000, or a loss of 0 cents per share, compared to a loss of $118,000, or a loss of 1 cents per share, in the prior-year period.