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Inter-Rock Minerals Q3 profit climbs YOY

Inter-Rock Minerals Inc. said its normalized net income for the third quarter came to $241,250, a gain from $20,630 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 2.9% from 0.7% in the year-earlier period.

Total revenue increased on an annual basis to $8.3 million from $2.8 million, and total operating expenses grew year over year to $7.9 million from $2.8 million.

Reported net income grew year over year to $386,000, or 2 cents per share, from $33,000, or 0 cents per share.