11:27 AM EST, 12/13/2024 (MT Newswires) -- EnWave ( NWVCF ) on Friday said it swung to a profit in its fiscal fourth quarter, citing a rise in revenue on the resale of a large-scale food dehydrator and an increase in royalties.

The company reported net income from continuing operations of $588,000, or $0.01 per share, in the quarter ended Sept.30, compared with a net loss of $605,000, or $0.01, in the year-prior period.

Revenue for the quarter rose to $3.63 million from $1.46 million a year earlier.

The company said the increase in royalties of $642,000 was primarily a result of an increase in exclusivity payments driven by a new commercial license agreement with an existing royalty partner.

Shares of the company were last seen down $0.005, or 2.5%, at $0.195 on the TSX Venture Exchange.

Price: 0.20, Change: -0.01, Percent Change: -2.50