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Cham Foods (Israel) Q3 loss widens 23.3% YOY


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Cham Foods (Israel) Q3 loss widens 23.3% YOY

Cham Foods (Israel) Ltd. said its normalized net income for the third quarter was a loss of 6 cents per share, compared with a loss of 4 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 a loss of $1.4 million, compared with a loss of $1.1 million in the year-earlier period.

The normalized profit margin declined to negative 42.6% from negative 31.4% in the year-earlier period.

Total revenue fell 8.9% on an annual basis to $3.3 million from $3.6 million, and total operating expenses fell 15.0% year over year to $3.3 million from $3.9 million.

Reported net income totaled a loss of $2.6 million, or a loss of 10 cents per share, compared to a loss of $2.1 million, or a loss of 8 cents per share, in the prior-year period.