08:36 AM EST, 12/19/2024 (MT Newswires) -- Microbix Biosystems ( MBXBF ) on Thursday reported lower fourth-quarter profit, but record revenue.

Net income declined to $0.44 million, or $0.003 per share, from $2 million, or $0.014 per share, last year. The company said last year's result benefited from a $3.1 million reversal of an impairment of a long term intangible asset, Kinlytic, an injectable drug.

Quarterly revenue jumped 48% to a record $6.3 million. The company booked significant increases in its Antigent and QAP segments.

Microbix expects to generate "meaningful" revenue growth in fiscal 2025.