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Wilhelmina International (Nasdaq: WHLM) reported its first-quarter 2024 financial results, showing a decline in overall performance. Revenues dropped to $4.2 million, a 7% decrease from Q1 2023. Net income fell to $0.1 million, or $0.02 per diluted share, compared to $0.2 million, or $0.03 per diluted share, from the previous year. The drop in revenues was attributed to decreased commissions in the company’s core modeling and Aperture divisions. Operating income saw a significant decline of 68.1% to $73,000. Additionally, Gross Billings fell by 10% to $15.8 million. The company experienced a 58% drop in EBITDA and a 57.9% decline in Adjusted EBITDA. While office and general expenses decreased by 22.7%, salaries and service costs rose by 3.0%. Corporate overhead expenses also increased by 3.7%.