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American Lorain Q2 profit falls YOY

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American Lorain Q2 profit falls YOY

American Lorain Corp. said its normalized net income for the second quarter came to 1 cents per share, a decrease of 23.0% from 2 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 $463,530, a decline of 20.4% from $582,390 in the prior-year period.

The normalized profit margin dropped to negative 1.1% from 1.6% in the year-earlier period.

Total revenue declined 10.0% year over year to $32.0 million from $35.5 million, and total operating expenses decreased 18.8% from the prior-year period to $28.7 million from $35.4 million.

Reported net income came to $7,820, or 0 cents per share, compared to a loss of $447,700, or a loss of 1 cents per share, in the year-earlier period.