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Avante Logixx Inc profit misses consensus by 73.9% in fiscal Q2

Avante Logixx Inc. said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to C$212,880, a gain of 40.7% from C$151,350 in the year-earlier period.

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

The normalized profit margin fell to 6.1% from 6.8% in the year-earlier period.

Total revenue rose 57.9% year over year to C$3.5 million from C$2.2 million, and total operating expenses increased 60.4% on an annual basis to C$3.2 million from C$2.0 million.

Reported net income grew from the prior-year period to C$244,710, or 0 cents per share, from C$75,290, or 0 cents per share.