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Sportscene fiscal Q1 profit climbs YOY

Sportscene Group Inc. said its normalized net income for the fiscal first quarter ended Nov. 29, 2015, came to C$146,130, an increase from C$35,000 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 0.7% from 0.2% in the year-earlier period.

Total revenue grew 19.2% on an annual basis to C$20.7 million from C$17.3 million, and total operating expenses rose 19.0% from the prior-year period to C$20.4 million from C$17.1 million.

Reported net income grew from the prior-year period to C$208,250, or 5 cents per share, from C$42,210, or 1 cents per share.