IntriCon Corp. said its first-quarter normalized net income was $43,380, a decrease of 84.2% from $274,380 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 1.3% from 1.7% in the year-earlier period.
Total revenue grew 10.0% on an annual basis to $18.3 million from $16.6 million, and total operating expenses increased 11.4% year over year to $18.0 million from $16.2 million.
Reported net income fell 95.2% year over year to $15,000, or 0 cents per share, from $311,350, or 5 cents per share.