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D-Box Technologies swings to profit in fiscal Q1

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D-Box Technologies swings to profit in fiscal Q1

D-BOX Technologies Inc. said its normalized net income for the fiscal first quarter ended June 30 amounted to C$36,880, compared with a loss of C$723,750 in the year-earlier period.

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

The normalized profit margin increased to 0.5% from negative 15.9% in the year-earlier period.

Total revenue rose 57.6% year over year to C$7.2 million from C$4.6 million, and total operating expenses grew 32.7% from the prior-year period to C$7.0 million from C$5.2 million.

Reported net income totaled C$34,240, or 0 cents per share, compared to a loss of C$1.2 million, or a loss of 1 cents per share, in the year-earlier period.