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Results Based Outsourcing swings to profit in Q1

Results-Based Outsourcing Inc. said its normalized net income for the first quarter came to $520, compared with a loss of $2,420 in the prior-year period.

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

The normalized profit margin rose to 0.5% from negative 10.0% in the year-earlier period.

Total revenue rose on an annual basis to $103,480 from $24,160, and total operating expenses grew on an annual basis to $102,650 from $28,020.

Reported net income totaled $830, or 0 cents per share, compared to a loss of $3,860, or a loss of 0 cents per share, in the year-earlier period.