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Deer Valley fiscal Q3 profit climbs 43.9% YOY

Deer Valley Corp. said its normalized net income for the fiscal third quarter ended Sept. 26 came to 3 cents per share, a gain of 43.0% from 2 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $450,670, a gain of 43.9% from $313,120 in the year-earlier period.

The normalized profit margin increased to 5.2% from 3.7% in the year-earlier period.

Total revenue climbed year over year to $8.7 million from $8.5 million, and total operating expenses totaled $8.0 million, compared with $8.0 million in the year-earlier period.

Reported net income increased 51.0% on an annual basis to $465,430, or 3 cents per share, from $308,230, or 2 cents per share.