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First Global Data swings to profit in Q1

First Global Data Ltd. said its first-quarter normalized net income was $62,280, compared with a loss of $907,190 in the year-earlier period.

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

The normalized profit margin was 5.6%.

Total revenue rose on an annual basis to $1.1 million from $182,700, and total operating expenses fell 32.5% from the prior-year period to $771,600 from $1.1 million.

Reported net income totaled $98,930, or 0 cents per share, compared to a loss of $1.5 million, or a loss of 1 cents per share, in the year-earlier period.