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Dantax swings to profit in fiscal Q3

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Dantax swings to profit in fiscal Q3

Dantax A/S said its normalized net income for the fiscal third quarter ended March 31 was 4.09 Danish kroner per share, compared with a loss of 39 øre per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.2 million kroner, compared with a loss of 117,500 kroner in the prior-year period.

The normalized profit margin rose to 6.3% from negative 0.8% in the year-earlier period.

Total revenue climbed 37.3% on an annual basis to 19.3 million kroner from 14.1 million kroner, and total operating expenses grew 28.5% from the prior-year period to 17.4 million kroner from 13.5 million kroner.

Reported net income totaled 1.4 million kroner, or 4.80 kroner per share, compared to a loss of 332,000 kroner, or a loss of 1.10 kroner per share, in the year-earlier period.

As of May 26, US$1 was equivalent to 6.84 Danish kroner.