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Castle Group Q3 profit falls YOY

Castle Group Inc. said its normalized net income for the third quarter came to $16,060, a decrease of 89.6% from $154,230 in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin fell to 0.3% from 2.5% in the year-earlier period.

Total revenue increased on an annual basis to $6.3 million from $6.1 million, and total operating expenses rose 7.6% year over year to $6.2 million from $5.8 million.

Reported net income decreased 99.4% year over year to $610, or 0 cents per share, from $103,950, or 1 cents per share.