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China Jo-Jo Drugstores swings to loss in fiscal Q3

China Jo-Jo Drugstores Inc. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, amounted to a loss of $364,020, compared with income of $87,470 in the year-earlier period.

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

The normalized profit margin fell to negative 1.5% from 0.4% in the year-earlier period.

Total revenue increased 15.9% year over year to $24.7 million from $21.3 million, and total operating expenses grew 19.4% year over year to $25.0 million from $20.9 million.

Reported net income totaled a loss of $687,230, or a loss of 4 cents per share, compared to income of $155,970, or 1 cents per share, in the year-earlier period.