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China Jo-Jo Drugstores swings to profit in fiscal Q3

China Jo-Jo Drugstores Inc. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to $87,470, compared with a loss of $5.5 million in the prior-year period.

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

The normalized profit margin increased to 0.4% from negative 30.7% in the year-earlier period.

Total revenue climbed 19.6% on an annual basis to $21.3 million from $17.8 million, and total operating expenses declined 21.5% on an annual basis to $20.9 million from $26.7 million.

Reported net income totaled $155,970, or 1 cents per share, compared to a loss of $8.9 million, or a loss of 64 cents per share, in the year-earlier period.