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Lifeloc Technologies swings to profit in Q1

Lifeloc Technologies Inc. said its first-quarter normalized net income was 6 cents per share, compared with a loss of 2 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $143,010, compared with a loss of $38,300 in the year-earlier period.

The normalized profit margin climbed to 6.4% from negative 1.9% in the year-earlier period.

Total revenue increased 8.8% on an annual basis to $2.2 million from $2.0 million, and total operating expenses declined 5.4% from the prior-year period to $2.0 million from $2.1 million.

Reported net income totaled $148,480, or 6 cents per share, compared to a loss of $50,560, or a loss of 2 cents per share, in the year-earlier period.