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Pioneering Technology fiscal Q2 loss narrows YOY

Pioneering Technology Corp. said its normalized net income for the fiscal second quarter ended March 31 came to a loss of C$34,350, compared with a loss of C$50,370 in the year-earlier period.

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

The normalized profit margin climbed to negative 4.2% from negative 6.0% in the year-earlier period.

Total revenue declined year over year to C$809,580 from C$843,230, and total operating expenses fell on an annual basis to C$800,090 from C$836,640.

Reported net income totaled a loss of C$54,960, or a loss of 0 cents per share, compared to a loss of C$80,600, or a loss of 0 cents per share, in the year-earlier period.