Ocean Bio-Chem Inc. said its normalized net income for the first quarter came to a loss of $14,600, compared with income of $219,170 in the year-earlier period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
The normalized profit margin dropped to 0.4% from 3.7% in the year-earlier period.
Total revenue climbed on an annual basis to $6.0 million from $5.9 million, and total operating expenses increased 7.8% on an annual basis to $6.0 million from $5.6 million.
Reported net income totaled a loss of $15,930, or a loss of 0 cents per share, compared to income of $265,890, or 3 cents per share, in the year-earlier period.