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ValueSetters swings to profit in fiscal Q1

ValueSetters Inc. said its normalized net income for the fiscal first quarter ended July 31 was $96,290, compared with a loss of $5,130 in the prior-year period.

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

The normalized profit margin climbed to 577.4% from negative 238.9% in the year-earlier period.

Total revenue rose on an annual basis to $16,680 from $2,150, and total operating expenses grew from the prior-year period to $186,370 from $5,870.

Reported net income came to $154,070, or 0 cents per share, compared to a loss of $8,200, or a loss of 0 cents per share, in the year-earlier period.