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International Parkside Products swings to profit in fiscal Q2

International Parkside Products Inc. said its normalized net income for the fiscal second quarter ended Jan. 31 came to C$117,380, compared with a loss of C$166,080 in the prior-year period.

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

The normalized profit margin increased to 10.2% from negative 19.0% in the year-earlier period.

Total revenue grew 31.3% year over year to C$1.1 million from C$873,090, and total operating expenses fell 11.0% from the prior-year period to C$999,820 from C$1.1 million.

Reported net income totaled C$187,810, or 1 cents per share, compared to a loss of C$265,730, or a loss of 2 cents per share, in the year-earlier period.