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Jemtec fiscal Q2 loss narrows YOY

JEMTEC Inc. said its normalized net income for the fiscal second quarter ended Jan. 31 came to a loss of 1 Canadian cents per share, compared with a loss of 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 a loss of C$30,300, compared with a loss of C$43,800 in the year-earlier period.

The normalized profit margin climbed to negative 13.2% from negative 26.3% in the year-earlier period.

Total revenue grew 37.3% on an annual basis to C$228,770 from C$166,620, and total operating expenses grew 18.4% on an annual basis to C$272,530 from C$230,240.

Reported net income came to a loss of C$48,490, or a loss of 2 cents per share, compared to a loss of C$70,070, or a loss of 3 cents per share, in the prior-year period.