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Glenbriar Technologies fiscal Q2 profit climbs 85.7% YOY

Glenbriar Technologies Inc. said its normalized net income for the fiscal second quarter ended March 31 amounted to C$39,770, a gain of 85.7% from C$21,420 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 3.1% from 1.8% in the year-earlier period.

Total revenue climbed 6.1% on an annual basis to C$1.3 million from C$1.2 million, and total operating expenses grew on an annual basis to C$1.2 million from C$1.2 million.

Reported net income increased 85.7% from the prior-year period to C$63,630, or 0 cents per share, from C$34,270, or 0 cents per share.