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CSP Inc. swings to profit in fiscal Q1

CSP Inc. said its normalized net income for the fiscal first quarter ended Dec. 31, 2015, came to 6 cents per share, compared with a loss of 17 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $231,880, compared with a loss of $596,250 in the prior-year period.

The normalized profit margin increased to 1.0% from negative 2.9% in the year-earlier period.

Total revenue rose 15.9% on an annual basis to $23.7 million from $20.4 million, and total operating expenses increased 9.3% from the prior-year period to $23.3 million from $21.4 million.

Reported net income came to $260,820, or 7 cents per share, compared to a loss of $418,800, or a loss of 12 cents per share, in the prior-year period.