CFN Enterprises Inc. said its normalized net income for the first quarter amounted to a loss of $364,530, compared with a loss of $996,390 in the year-earlier period.

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

The normalized profit margin climbed to negative 6.2% from negative 19.2% in the year-earlier period.

Total revenue grew 12.8% year over year to $5.9 million from $5.2 million, and total operating expenses declined 7.9% on an annual basis to $6.2 million from $6.8 million.

Reported net income totaled a loss of $650,690, or a loss of 1 cents per share, compared to a loss of $1.9 million, or a loss of 3 cents per share, in the prior-year period.