Strong sales power Q3 profits at EXFO

QUEBEC CITY – EXFO Inc. is back in the black after posting US$1.7 million in net earnings for the third quarter of fiscal 2014, versus net losses in the previous quarter and year-over-year of $1.3 million and $0.9 million, respectively.The Canadian test and measurement maker said third quarter net earnings included $1.0 million in after-tax amortization of intangible assets, $0.4 million in stock-based compensation costs and a foreign exchange loss of $1.1 million. Adjusted EBITDA amounted to $7.3 million, or 11.5% of sales, this quarter compared to $3.1 million, or 5.3% of sales, in the same period last year.Sales for the three month...