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IFabric swings to loss in fiscal Q3

iFabric Corp. said its normalized net income for the fiscal third quarter ended June 30 came to a loss of C$97,070, compared with income of C$238,530 in the prior-year period.

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

The normalized profit margin declined to negative 3.2% from 6.4% in the year-earlier period.

Total revenue decreased 18.9% year over year to C$3.0 million from C$3.7 million, and total operating expenses declined 6.2% year over year to C$3.1 million from C$3.3 million.

Reported net income came to a loss of C$129,650, or a loss of 1 cents per share, compared to income of C$216,660, or 1 cents per share, in the year-earlier period.