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AS-IP Tech swings to profit in fiscal Q3

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AS-IP Tech swings to profit in fiscal Q3

AS-IP Tech Inc. said its normalized net income for the fiscal third quarter ended March 31 came to $430, compared with a loss of $48,700 in the year-earlier period.

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

The normalized profit margin was 0.3%.

Total revenue grew on an annual basis to $142,030 from $5,820, and total operating expenses grew on an annual basis to $138,170 from $18,560.

Reported net income totaled $680, or 0 cents per share, compared to a loss of $77,920, or a loss of 0 cents per share, in the year-earlier period.