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Del Monte Pacific fiscal Q2 profit falls YOY

Del Monte Pacific Ltd. said its normalized net income for the fiscal second quarter ended Oct. 31 amounted to $413,500, a decline of 94.8% from $8.0 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 dropped to 4.4% from 5.9% in the year-earlier period.

Total revenue climbed on an annual basis to $548.0 million from $136.3 million, and total operating expenses grew year over year to $522.6 million from $120.1 million.

Reported net income fell 98.5% year over year to $130,010, or 0 cents per share, from $8.8 million, or 1 cents per share.