Santa Fe Financial Corp. said its normalized net income for the fiscal third quarter ended March 31 amounted to 79 cents per share, compared with a loss of 61 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 $986,250, compared with a loss of $763,250 in the prior-year period.

The normalized profit margin increased to 6.9% from negative 5.7% in the year-earlier period.

Total revenue increased 5.5% year over year to $14.2 million from $13.5 million, and total operating expenses fell year over year to $12.9 million from $13.1 million.

Reported net income came to a loss of $2.5 million, or a loss of $2.03 per share, compared to a loss of $909,000, or a loss of 73 cents per share, in the prior-year period.