12:13 PM EDT, 08/14/2024 (MT Newswires) -- Else Nutrition ( BABYF ) said Wednesday that it swung to profit in the second quarter on a 10% rise in revenue.

The food and nutrition company reported a gross profit of $263,000, reversing a gross loss of $50,000.

Revenue rose to $2.6 million from $2.4 million while operating expenses dropped to $3.4 million from $4.2 million.

"We believe these results are a strong validation of the market demand for nutritious and healthy alternatives," CEO Hamutal Yitzhak said. "Overall, we are committed to growing our revenue and capturing a significant share of this multi-billion market, while progressing towards profitability and driving value for our shareholders."

The company's shares were last seen down $0.015 to $0.11 on the Toronto Stock Exchange.

Price: 0.11, Change: -0.02, Percent Change: -12.00