Bermuda Aviation Services Ltd said its normalized net income for the fiscal full year ended March 31 came to 16 Bermudian cents per share, compared with a loss of 9 cents per share in the prior-year period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 785,000 dollars, compared with a loss of 453,630 dollars in the year-earlier period.
The normalized profit margin increased to 2.0% from negative 1.1% in the year-earlier period.
Total revenue fell year over year to 39.5 million dollars from 40.1 million dollars, and total operating expenses fell 6.6% from the prior-year period to 37.3 million dollars from 39.9 million dollars.
Reported net income totaled 1.6 million dollars, or 33 cents per share, compared to a loss of 602,000 dollars, or a loss of 12 cents per share, in the year-earlier period.
As of July 26, US$1 was equivalent to 1 Bermudian dollar.