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Alphinat swings to profit in fiscal Q1

Alphinat Inc. said its normalized net income for the fiscal first quarter ended Nov. 30, 2015, came to C$19,360, compared with a loss of C$126,590 in the prior-year period.

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

The normalized profit margin rose to 5.1% from negative 49.2% in the year-earlier period.

Total revenue climbed 48.1% on an annual basis to C$380,850 from C$257,110, and total operating expenses declined 26.3% year over year to C$307,890 from C$417,910.

Reported net income totaled C$30,980, or 0 cents per share, compared to a loss of C$202,540, or a loss of 0 cents per share, in the prior-year period.