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Alliance Select Foods Q1 profit climbs YOY

Alliance Select Foods International, Inc. said its normalized net income for the first quarter came to $488,560, a gain from $170,230 in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin climbed to 3.3% from 0.8% in the year-earlier period.

Total revenue fell 31.5% on an annual basis to $14.7 million from $21.4 million, and total operating expenses declined 36.0% year over year to $13.3 million from $20.7 million.

Reported net income rose year over year to $513,630, or 0 cents per share, from $51,050, or 0 cents per share.