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Maiden Lane Jewelry swings to profit in fiscal Q2

Maiden Lane Jewelry Ltd. said its normalized net income for the fiscal second quarter ended Nov. 30, 2014, amounted to $88,680, compared with a loss of $5,650 in the year-earlier period.

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

The normalized profit margin climbed to 3.2% from negative 0.4% in the year-earlier period.

Total revenue climbed 79.3% year over year to $2.7 million from $1.5 million, and total operating expenses rose 66.2% year over year to $2.5 million from $1.5 million.

Reported net income totaled $105,140, or 1 cents per share, compared to a loss of $12,740, or a loss of 0 cents per share, in the year-earlier period.