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Imperial Ginseng Products swings to profit in fiscal Q1

Imperial Ginseng Products Ltd. said its normalized net income for the fiscal first quarter ended Sept. 30 came to 2 Canadian cents per share, compared with a loss of 4 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 C$119,040, compared with a loss of C$104,540 in the year-earlier period.

Reported net income came to a loss of C$430, or a loss of 0 cents per share, compared to a loss of C$799,720, or a loss of 34 cents per share, in the prior-year period.