Pioneering Technology Corp. said its normalized net income for the fiscal first quarter ended Dec. 31, 2014, came to C$50,910, a decline of 37.9% from C$81,960 in the prior-year period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
The normalized profit margin fell to 4.3% from 7.4% in the year-earlier period.
Total revenue grew 8.0% year over year to C$1.2 million from C$1.1 million, and total operating expenses climbed 8.8% on an annual basis to C$1.0 million from C$956,860.
Reported net income declined 37.9% from the prior-year period to C$81,460, or 0 cents per share, from C$131,140, or 1 cents per share.
