Thanks in large part to a one-time...

Thanks in large part to a one-time licensing fee of $500,000, Synbiotics Corp. reported net income of $410,600 on revenues of $2 million for the first quarter ended June 30, up from a loss of $56,823 on revenues of $930,482 over the same period last year.

The first-quarter figures show the benefit of Synbiotics’ receipt of a fee that is part of a $6.75-million marketing and research and development agreement with International Minerals and Chemicals Corp. The first quarter results also reflect an extraordinary tax credit of $140,425.