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Vecima Networks fiscal Q2 profit climbs 92.3% YOY

Vecima Networks Inc. said its normalized net income for the fiscal second quarter ended Dec. 31, 2015, came to 24 Canadian cents per share, compared with the S&P Capital IQ consensus estimate of 21 cents per share.

EPS climbed 91.8% year over year from 13 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was C$5.4 million, an increase of 92.3% from C$2.8 million in the prior-year period.

The normalized profit margin increased to 21.2% from 11.9% in the year-earlier period.

Total revenue grew 16.7% year over year to C$27.7 million from C$23.7 million, and total operating expenses came to C$19.7 million, compared with C$19.7 million in the year-earlier period.

Reported net income grew 81.7% year over year to C$6.5 million, or 29 cents per share, from C$3.6 million, or 16 cents per share.