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Castle Group swings to profit in Q2

Castle Group Inc. said its second-quarter normalized net income came to $8,850, compared with a loss of $218,600 in the year-earlier period.

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

The normalized profit margin rose to 0.1% from negative 4.1% in the year-earlier period.

Total revenue climbed 10.0% year over year to $5.9 million from $5.4 million, and total operating expenses climbed on an annual basis to $5.8 million from $5.7 million.

Reported net income came to a loss of $4,360, or a loss of 0 cents per share, compared to a loss of $301,620, or a loss of 3 cents per share, in the prior-year period.