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American Lorain swings to profit in Q4

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American Lorain swings to profit in Q4

American Lorain Corp. said its normalized net income for the fourth quarter came to 22 cents per share, compared with a loss of 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 $8.6 million, compared with a loss of $598,240 in the prior-year period.

Total revenue declined year over year to $94.5 million from $98.1 million, and total operating expenses declined 7.7% on an annual basis to $85.6 million from $92.8 million.

Reported net income totaled $2.6 million, or 7 cents per share, compared to a loss of $1.1 million, or a loss of 3 cents per share, in the prior-year period.

For the year, the company's normalized net income totaled 31 cents per share, a gain from 12 cents per share in the prior year.

Normalized net income was $11.5 million, a gain from $4.0 million in the prior year.

Full-year total revenue decreased year over year to $215.3 million from $217.6 million, and total operating expenses came to $201.3 million, compared with $201.9 million in the year-earlier period.

The company said reported net income rose 6.9% on an annual basis to $4.1 million, or 11 cents per share, in the full year, from $3.8 million, or 11 cents per share.