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CN Dragon Corp. fiscal Q4 loss narrows YOY

CN Dragon Corp. said its normalized net income for the fiscal fourth quarter ended March 31 was a loss of $11,870, compared with a loss of $33,540 in the year-earlier period.

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

The normalized profit margin increased to negative 31.6% from negative 282.3% in the year-earlier period.

Total revenue increased on an annual basis to $37,530 from $11,880, and total operating expenses decreased 13.8% year over year to $56,510 from $65,540.

Reported net income totaled a loss of $17,820, or a loss of 0 cents per share, compared to a loss of $29,240, or a loss of 0 cents per share, in the prior-year period.

For the year, the company's normalized net income totaled $11,040, compared with a loss of $-119,540 in the prior year.

Full-year total revenue rose 69.8% from the prior-year period to $181,820 from $107,110, and total operating expenses fell 33.1% year over year to $199,480 from $298,370.

The company said reported net income totaled a loss of $16,200, or a loss of 0 cents per share, in the full year, compared with a loss of $191,260, or a loss of 0 cents per share, the prior year.