KSG Agro S.A. said its third-quarter normalized net income was $148,250, a decline of 91.8% from $1.8 million in the year-earlier period.

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

The normalized profit margin declined to 2.8% from 17.6% in the year-earlier period.

Total revenue fell 49.0% on an annual basis to $5.2 million from $10.3 million, and total operating expenses decreased 58.9% on an annual basis to $1.2 million from $2.8 million.

Reported net income totaled $4.4 million, or 29 cents per share, compared to a loss of $8.3 million, or a loss of 55 cents per share, in the prior-year period.