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Oil-Dri Corp. of America fiscal Q1 profit climbs YOY

Oil-Dri Corp. of America said its normalized net income for the fiscal first quarter ended Oct. 31 was 67 cents per share, a gain from 26 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 $4.7 million, an increase from $1.8 million in the prior-year period.

The normalized profit margin rose to 7.0% from 2.7% in the year-earlier period.

Total revenue rose on an annual basis to $67.8 million from $66.0 million, and total operating expenses fell on an annual basis to $60.0 million from $62.9 million.

Reported net income increased from the prior-year period to $5.3 million, or 75 cents per share, from $2.1 million, or 30 cents per share.