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Brick Brewing swings to profit in fiscal Q2

Brick Brewing Co. Ltd. said its normalized net income for the fiscal second quarter ended July 27 came to 1 Canadian cents per share, compared with the S&P Capital IQ consensus estimate of 1 cents per share.

The per-share result swung to a profit from the prior-year loss of 1 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was C$380,410, compared with a loss of C$385,140 in the year-earlier period.

The normalized profit margin climbed to 3.7% from negative 3.4% in the year-earlier period.

Total revenue decreased 8.4% year over year to C$10.4 million from C$11.4 million, and total operating expenses declined 18.6% from the prior-year period to C$9.6 million from C$11.8 million.

Reported net income totaled C$345,330, or 1 cents per share, compared to a loss of C$308,900, or a loss of 2 cents per share, in the prior-year period.