Where Food Comes From Inc. said its normalized net income for the first quarter came to $97,600, a gain of 12.6% from $86,690 in the prior-year period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
The normalized profit margin declined to 4.0% from 4.2% in the year-earlier period.
Total revenue grew 17.5% year over year to $2.4 million from $2.1 million, and total operating expenses rose 13.2% on an annual basis to $2.3 million from $2.1 million.
Reported net income grew 59.1% on an annual basis to $87,250, or 0 cents per share, from $54,850, or 0 cents per share.