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Solbright swings to profit in fiscal Q3

Solbright Group Inc. said its normalized net income for the fiscal third quarter ended Feb. 29 amounted to $38,280, compared with a loss of $373,170 in the prior-year period.

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

The normalized profit margin increased to 5.1% from negative 262.4% in the year-earlier period.

Total revenue rose on an annual basis to $749,080 from $142,200, and total operating expenses rose 7.2% year over year to $680,820 from $634,950.

Reported net income came to $61,250, or 1 cents per share, compared to a loss of $597,070, or a loss of 11 cents per share, in the year-earlier period.