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CN Dragon Corp. swings to profit in fiscal Q2

CN Dragon Corp. said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to $36,690, compared with a loss of $26,290 in the year-earlier period.

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

The normalized profit margin rose to 35.9% from negative 74.2% in the year-earlier period.

Total revenue increased year over year to $102,310 from $35,440, and total operating expenses fell 43.7% year over year to $43,610 from $77,500.

Reported net income came to $56,710, or 0 cents per share, compared to a loss of $17,880, or a loss of 0 cents per share, in the prior-year period.