Kernel Holding SA said its normalized net income for the fiscal first quarter ended Sept. 30 amounted to 21 cents per share, compared with a loss of 25 cents per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $16.8 million, compared with a loss of $20.4 million in the year-earlier period.
The normalized profit margin increased to 2.9% from negative 4.9% in the year-earlier period.
Total revenue grew 40.3% on an annual basis to $579.2 million from $412.9 million, and total operating expenses increased 19.1% year over year to $518.8 million from $435.7 million.
Reported net income totaled $25.2 million, or 31 cents per share, compared to a loss of $30.4 million, or a loss of 38 cents per share, in the year-earlier period.
