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China Education Resources swings to profit in Q2

China Education Resources Inc. said its normalized net income for the second quarter was $497,300, compared with a loss of $17,900 in the prior-year period.

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

The normalized profit margin increased to 9.5% from negative 0.5% in the year-earlier period.

Total revenue climbed 29.1% on an annual basis to $5.1 million from $4.0 million, and total operating expenses grew year over year to $3.5 million from $3.4 million.

Reported net income increased year over year to $1.0 million, or 2 cents per share, from $152,890, or 0 cents per share.