Dragon Group International Ltd. said its normalized net income for the first quarter was a loss of $381,380, compared with a loss of $582,130 in the year-earlier period.

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

The normalized profit margin rose to negative 21.1% from negative 157.8% in the year-earlier period.

Total revenue grew year over year to $1.8 million from $369,000, and total operating expenses rose 81.3% year over year to $2.5 million from $1.4 million.

Reported net income came to a loss of $626,300, or a loss of 0 cents per share, compared to a loss of $962,350, or a loss of 0 cents per share, in the year-earlier period.