09:42 AM EDT, 05/13/2025 (MT Newswires) -- Unisync ( USYNF ) on Tuesday reported a higher net income before tax even as consolidated revenue decreased for the second quarter.

The company reported a net income before tax of $1.0 million or $0.05 per share for the three months ended March 31, compared with a net income before tax of $0.6 million, a year earlier.

Consolidated revenue was $24.5 million in Q2 compared with $25.7 million, a year-ago. UGL revenues experienced a decrease of $3.4 million due mainly to a decrease in airline account revenue, resulting in a decrease in gross profit from $4.4 million in the same period last year to $4.0 million. The Peerless segment revenues increased by $1.9 million over the same quarter last year due to timing of the shipments on government contracts.

Unisync ( USYNF ) noted in a statement that recent upward momentum in the value of the Canadian dollar bodes well for an eventual recovery of the first quarter unrealized foreign exchange losses. It added that its Peerless business segment is set to maintain its current level of revenues and profitability in fiscal 2025.

Shares of the company closed down 0.8% to $1.19 on Monday on the Toronto Stock Exchange.

Price: 1.22, Change: +0.03, Percent Change: +2.52