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Oil-Dri Corp. of America swings to loss in fiscal Q3

Oil-Dri Corp. of America said its normalized net income for the fiscal third quarter ended April 30 amounted to a loss of 11 cents per share, compared with 17 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $770,630, compared with income of $1.2 million in the prior-year period.

The normalized profit margin fell to negative 1.2% from 1.8% in the year-earlier period.

Total revenue decreased year over year to $64.2 million from $65.2 million, and total operating expenses grew year over year to $65.5 million from $63.3 million.

Reported net income came to a loss of $915,330, or a loss of 13 cents per share, compared to income of $1.3 million, or 19 cents per share, in the year-earlier period.