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Del Monte Pacific swings to profit in fiscal Q3

Del Monte Pacific Ltd. said its normalized net income for the fiscal third quarter ended Jan. 31 came to $1.7 million, compared with a loss of $8.0 million in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin climbed to 0.3% from negative 6.4% in the year-earlier period.

Total revenue rose on an annual basis to $637.6 million from $123.7 million, and total operating expenses rose year over year to $608.0 million from $136.3 million.

Reported net income came to a loss of $2.2 million, or a loss of 0 cents per share, compared to a loss of $6.4 million, or a loss of 1 cents per share, in the year-earlier period.