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Brick Brewing swings to profit in fiscal Q1

Brick Brewing Co. Ltd. said its normalized net income for the fiscal first quarter ended April 26 was C$30,370, compared with a loss of C$172,430 in the prior-year period.

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

The normalized profit margin rose to 0.4% from negative 2.3% in the year-earlier period.

Total revenue climbed year over year to C$7.7 million from C$7.5 million, and total operating expenses fell on an annual basis to C$7.5 million from C$7.7 million.

Reported net income totaled C$30,780, or 0 cents per share, compared to a loss of C$346,590, or a loss of 1 cents per share, in the prior-year period.