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JB Foods Q1 loss narrows YOY

JB Foods Ltd said its first-quarter normalized net income came to a loss of $255,630, compared with a loss of $1.7 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 climbed to negative 0.8% from negative 3.2% in the year-earlier period.

Total revenue fell 21.0% on an annual basis to $42.1 million from $53.3 million, and total operating expenses declined 23.6% year over year to $42.6 million from $55.8 million.

Reported net income came to a loss of $489,000, or a loss of 0 cents per share, compared to a loss of $2.7 million, or a loss of 2 cents per share, in the year-earlier period.