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Inter-Rock Minerals Q2 profit falls YOY

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Essential Metals & Mining Insights July 2020

Inter-Rock Minerals Q2 profit falls YOY

Inter-Rock Minerals Inc. said its second-quarter normalized net income amounted to $9,380, a fall of 76.2% from $39,380 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 0.1% from 1.4% in the year-earlier period.

Total revenue rose year over year to $8.6 million from $2.9 million, and total operating expenses climbed year over year to $8.5 million from $2.8 million.

Reported net income declined 76.2% from the prior-year period to $15,000, or 0 cents per share, from $63,000, or 0 cents per share.