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Unisync fiscal Q1 profit falls YOY

Unisync Corp. said its normalized net income for the fiscal first quarter ended Dec. 31, 2014, amounted to C$12,610, a decline of 95.6% from C$288,420 in the first quarter ended Feb. 28, 2014.

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

The normalized profit margin declined to 0.2% from 5.4% in the year-earlier period.

Total revenue rose 95.5% on an annual basis to C$10.4 million from C$5.3 million, and total operating expenses increased from the prior-year period to C$10.2 million from C$4.7 million.

Reported net income decreased 93.0% year over year to C$22,790, or 0 cents per share, from C$325,720, or 3 cents per share.