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Avante Logixx Inc profit misses consensus by 78.3% in fiscal Q3

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Avante Logixx Inc profit misses consensus by 78.3% in fiscal Q3

Avante Logixx Inc. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was C$163,880, a decrease of 6.1% from C$174,470 in the year-earlier period.

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

The normalized profit margin dropped to 5.6% from 7.7% in the year-earlier period.

Total revenue grew 30.4% on an annual basis to C$2.9 million from C$2.3 million, and total operating expenses grew 34.0% year over year to C$2.7 million from C$2.0 million.

Reported net income declined 23.8% on an annual basis to C$226,890, or 0 cents per share, from C$297,740, or 0 cents per share.