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Global Seed swings to profit in fiscal Q3

Global Seed Corp. said its normalized net income for the fiscal third quarter ended March 31 came to $70, compared with a loss of $1,050 in the prior-year period.

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

The normalized profit margin was 4.0%.

Total revenue came to $1,700, and total operating expenses decreased 5.4% from the prior-year period to $1,590 from $1,680.

Reported net income came to $110, or 0 cents per share, compared to a loss of $1,680, or a loss of 0 cents per share, in the prior-year period.