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IFabric swings to loss in fiscal Q1

iFabric Corp. said its normalized net income for the fiscal first quarter ended Dec. 31, 2014, was a loss of C$51,230, compared with income of C$200,610 in the prior-year period.

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

The normalized profit margin fell to negative 3.6% from 6.7% in the year-earlier period.

Total revenue rose on an annual basis to C$3.0 million from C$3.0 million, and total operating expenses increased 16.6% from the prior-year period to C$3.2 million from C$2.7 million.

Reported net income came to a loss of C$155,310, or a loss of 1 cents per share, compared to income of C$214,740, or 1 cents per share, in the year-earlier period.