trending Market Intelligence /marketintelligence/en/news-insights/trending/G2rF3U0oLlxM3sv3RsjiTQ2 content esgSubNav
In This List

Pioneering Technology swings to profit in fiscal Q4

Blog

Gold - Geopolitical tensions and inflation remain key drivers

Blog

Lithium and Cobalt - Softer demand weighs on prices

Podcast

Street Talk | Episode 94: Recessionary fears in ’22 overblown, Fed could overtighten

Blog

Insight Weekly: Ukraine war impact on mining; US bank growth slowdown; cloud computing headwinds


Pioneering Technology swings to profit in fiscal Q4

Pioneering Technology Corp. said its normalized net income for the fiscal fourth quarter ended Sept. 30, 2015, amounted to C$22,260, compared with a loss of C$703,110 in the prior-year period.

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

The normalized profit margin rose to 1.9% from negative 276.5% in the year-earlier period.

Total revenue climbed year over year to C$1.2 million from C$254,250, and total operating expenses decreased 35.9% on an annual basis to C$793,310 from C$1.2 million.

Reported net income totaled C$35,620, or 0 cents per share, compared to a loss of C$1.1 million, or a loss of 4 cents per share, in the prior-year period.

For the year, the company's normalized net income totaled C$88,110, compared with a loss of C$-739,950 in the prior year.

Full-year total revenue grew 50.2% year over year to C$4.4 million from C$2.9 million, and total operating expenses decreased year over year to C$3.7 million from C$3.8 million.

The company said reported net income came to C$140,980, or 0 cents per share, in the full year, compared with a loss of C$1.2 million, or a loss of 4 cents per share, the prior year.