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Gatekeeper Systems swings to profit in fiscal Q2

Gatekeeper Systems Inc. said its normalized net income for the fiscal second quarter ended Feb. 29 came to C$41,270, compared with a loss of C$148,400 in the prior-year period.

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

The normalized profit margin increased to 2.4% from negative 13.7% in the year-earlier period.

Total revenue climbed 58.8% year over year to C$1.7 million from C$1.1 million, and total operating expenses climbed 25.2% on an annual basis to C$1.7 million from C$1.4 million.

Reported net income totaled C$66,020, or 0 cents per share, compared to a loss of C$442,550, or a loss of 1 cents per share, in the year-earlier period.