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Integrated Biopharma fiscal Q3 loss narrows YOY

Integrated Biopharma said its normalized net income for the fiscal third quarter ended March 31 amounted to a loss of $113,750, compared with a loss of $264,380 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 negative 1.2% from negative 3.5% in the year-earlier period.

Total revenue grew 28.6% year over year to $9.7 million from $7.5 million, and total operating expenses increased 25.1% from the prior-year period to $9.7 million from $7.7 million.

Reported net income came to a loss of $211,050, or a loss of 1 cents per share, compared to a loss of $421,600, or a loss of 2 cents per share, in the prior-year period.