Feronia Inc. said its normalized net income for the third quarter came to a loss of $1.2 million, compared with a loss of $4.9 million in the year-earlier period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
The normalized profit margin was 24.0%.
Total revenue grew on an annual basis to $4.3 million from $794,480, and total operating expenses increased 86.1% on an annual basis to $7.6 million from $4.1 million.
Reported net income came to a loss of $3.5 million, or a loss of 1 cents per share, compared to a loss of $7.2 million, or a loss of 13 cents per share, in the year-earlier period.