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Immunotec fiscal Q4 profit climbs 83.6% YOY

Immunotec Inc. said its normalized net income for the fiscal fourth quarter ended Oct. 31, 2015, amounted to C$1.2 million, a gain of 83.6% from C$656,650 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 4.9% from 2.8% in the year-earlier period.

Total revenue grew 6.4% on an annual basis to C$24.8 million from C$23.3 million, and total operating expenses grew year over year to C$22.9 million from C$22.3 million.

Reported net income grew year over year to C$2.1 million, or 2 cents per share, from C$1,040, or 0 cents per share.

For the year, the company's normalized net income totaled 5 cents per share, an increase of 37.2% from 3 cents per share in the prior year.

Normalized net income was C$3.1 million, a rise of 37.5% from C$2.3 million in the prior year.

Full-year total revenue rose on an annual basis to C$84.8 million from C$80.8 million, and total operating expenses grew on an annual basis to C$79.4 million from C$76.5 million.

The company said reported net income totaled C$4.1 million, or 6 cents per share, in the full year, compared with a loss of C$2.8 million, or a loss of 4 cents per share, the prior year.