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BioNeutra swings to profit in Q2

BioNeutra Global Corp. said its normalized net income for the second quarter amounted to C$813,360, compared with a loss of C$60,520 in the prior-year period.

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

The normalized profit margin rose to 12.8% from negative 1.4% in the year-earlier period.

Total revenue rose 49.0% on an annual basis to C$6.3 million from C$4.3 million, and total operating expenses climbed 21.0% from the prior-year period to C$5.1 million from C$4.2 million.

Reported net income came to C$1.4 million, or 3 cents per share, compared to a loss of C$96,840, or a loss of 0 cents per share, in the year-earlier period.