08:02 AM EDT, 03/17/2025 (MT Newswires) -- Quarterhill ( QTRHF ) , a provider of tolling and enforcement solutions, on Monday said it swung to a fourth-quarter profit despite a drop in revenue as turnaround efforts took hold.

Net income from continuing operations for the three months ended Dec. 31 was US$272,000, or breakeven per share, compared with a net loss from continuing operations of US$11.5 million, or US$0.10 per diluted share, a year earlier.

Revenue for the quarter decreased to US$38.9 million compared with US$43.0 million a year earlier due primarily to the timing of revenues received from certain contracts and the disposition of non-core Latin American operations in December 2023.

"While we still have work to do in our turnaround, with a solid financial foundation, improved operational efficiency, and enhanced technological capabilities, we are confident in our strategy and ability to execute on our growth plans," said Quarterhill ( QTRHF ) Chief Executive Chuck Myers.

Shares of the company closed unchanged at $1.50 on Friday on the Toronto Stock Exchange.