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American Lorain Q3 profit falls YOY

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American Lorain Q3 profit falls YOY

American Lorain Corp. said its third-quarter normalized net income came to 1 cents per share, a decrease of 76.5% from 6 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 $525,510, a decrease of 75.7% from $2.2 million in the prior-year period.

The normalized profit margin dropped to negative 0.0% from 4.5% in the year-earlier period.

Total revenue fell 14.4% year over year to $40.8 million from $47.7 million, and total operating expenses fell 15.6% year over year to $36.8 million from $43.6 million.

Reported net income decreased 82.8% on an annual basis to $382,660, or 1 cents per share, from $2.2 million, or 6 cents per share.