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Microwave Filter Co. swings to profit in fiscal Q2

Microwave Filter Co. Inc. said its normalized net income for the fiscal second quarter ended March 31 came to 2 cents per share, compared with a loss of 2 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 $60,470, compared with a loss of $50,620 in the year-earlier period.

The normalized profit margin climbed to 5.5% from negative 6.0% in the year-earlier period.

Total revenue rose 31.7% on an annual basis to $1.1 million from $839,430, and total operating expenses grew 9.5% on an annual basis to $1.0 million from $919,100.

Reported net income came to $99,750, or 4 cents per share, compared to a loss of $78,920, or a loss of 3 cents per share, in the year-earlier period.