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D-Box Technologies swings to profit in fiscal Q4

D-Box Technologies Inc. said its normalized net income for the fiscal fourth quarter ended March 31 came to C$570,630, compared with a loss of C$96,250 in the prior-year period.

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

The normalized profit margin climbed to 8.5% from negative 1.9% in the year-earlier period.

Total revenue climbed 34.1% on an annual basis to C$6.7 million from C$5.0 million, and total operating expenses increased 18.1% from the prior-year period to C$6.5 million from C$5.5 million.

Reported net income totaled C$850,000, or 1 cents per share, compared to a loss of C$43,000, or a loss of 0 cents per share, in the year-earlier period.

For the year, the company's normalized net income totaled C$215,630, compared with a loss of C$-978,750 in the prior year.

Full-year total revenue grew 17.0% on an annual basis to C$20.6 million from C$17.6 million, and total operating expenses rose 11.3% year over year to C$22.0 million from C$19.8 million.

The company said reported net income totaled a loss of C$478,000, or a loss of 0 cents per share, in the full year, compared with a loss of C$1.6 million, or a loss of 1 cents per share, the prior year.