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Canyon Creek Food fiscal Q2 loss widens YOY

Canyon Creek Food Co. Ltd. said its normalized net income for the fiscal second quarter ended Nov. 30, 2014, amounted to a loss of C$391,450, compared with a loss of C$176,650 in the prior-year period.

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

The normalized profit margin dropped to negative 74.3% from negative 23.8% in the year-earlier period.

Total revenue fell 29.0% on an annual basis to C$526,740 from C$741,380, and total operating expenses climbed 8.3% year over year to C$901,200 from C$832,170.

Reported net income came to a loss of C$626,320, or a loss of 2 cents per share, compared to a loss of C$282,650, or a loss of 1 cents per share, in the year-earlier period.