Snyder's-Lance Inc. said its normalized net income for the fiscal first quarter ended April 1 came to 10 cents per share, a decrease of 56.3% from 24 cents per share in the prior-year period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $10.2 million, a decline of 46.7% from $19.1 million in the prior-year period.
The normalized profit margin fell to 1.9% from 4.3% in the year-earlier period.
Total revenue increased 18.7% on an annual basis to $531.5 million from $447.9 million, and total operating expenses grew 22.6% year over year to $506.2 million from $412.8 million.
Reported net income totaled $10.7 million, or 11 cents per share, compared to a loss of $23.2 million, or a loss of 29 cents per share, in the year-earlier period.