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Leading Brands swings to loss in fiscal Q2

Leading Brands Inc. said its normalized net income for the fiscal second quarter ended Aug. 31 amounted to a loss of C$7,990, compared with income of C$355,430 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 negative 0.2% from 8.8% in the year-earlier period.

Total revenue fell 6.8% year over year to C$3.8 million from C$4.1 million, and total operating expenses increased 7.8% year over year to C$3.8 million from C$3.5 million.

Reported net income came to a loss of C$12,790, or a loss of 0 cents per share, compared to income of C$419,300, or 13 cents per share, in the year-earlier period.