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Alphinat swings to profit in fiscal Q2

Alphinat Inc. said its normalized net income for the fiscal second quarter ended Feb. 29 came to C$29,360, compared with a loss of C$83,330 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 6.2% from negative 24.8% in the year-earlier period.

Total revenue rose 41.0% year over year to C$473,380 from C$335,820, and total operating expenses fell 17.5% on an annual basis to C$353,000 from C$427,670.

Reported net income totaled C$46,970, or 0 cents per share, compared to a loss of C$133,330, or a loss of 0 cents per share, in the year-earlier period.