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Corby Spirit & Wine fiscal Q3 profit falls YOY

Corby Spirit & Wine Ltd. said its normalized net income for the fiscal third quarter ended March 31 was 7 Canadian cents per share, a decline of 22.7% from 9 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 C$2.0 million, a decline of 22.7% from C$2.6 million in the year-earlier period.

The normalized profit margin fell to 7.5% from 9.1% in the year-earlier period.

Total revenue fell 6.3% on an annual basis to C$26.8 million from C$28.6 million, and total operating expenses declined on an annual basis to C$24.0 million from C$24.9 million.

Reported net income declined 27.3% on an annual basis to C$2.3 million, or 8 cents per share, from C$3.1 million, or 11 cents per share.