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Inter-Rock Minerals swings to profit in Q2

Inter-Rock Minerals Inc. said its second-quarter normalized net income amounted to $39,380, compared with a loss of $148,130 in the prior-year period.

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

The normalized profit margin rose to 1.4% from negative 5.7% in the year-earlier period.

Total revenue climbed 9.3% on an annual basis to $2.9 million from $2.6 million, and total operating expenses fell on an annual basis to $2.8 million from $2.8 million.

Reported net income came to $63,000, or 0 cents per share, compared to a loss of $237,000, or a loss of 1 cents per share, in the year-earlier period.