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Zedge fiscal Q1 profit climbs 62.9% YOY

Zedge Inc. said its normalized net income for the fiscal first quarter ended Oct. 31, 2015, was $4.84 per share, a gain of 61.4% from $3.00 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $228,130, a gain of 62.9% from $140,000 in the prior-year period.

The normalized profit margin climbed to 8.9% from 6.9% in the year-earlier period.

Total revenue increased 26.4% on an annual basis to $2.6 million from $2.0 million, and total operating expenses grew 15.9% from the prior-year period to $2.1 million from $1.8 million.

Reported net income grew 76.3% on an annual basis to $104,000, or $2.21 per share, from $59,000, or $1.26 per share.