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Parmalat Q3 profit climbs YOY

Parmalat S.p.A. said its third-quarter normalized net income was 3 euro cents per share, a gain from 3 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 €59.1 million, an increase from €56.7 million in the year-earlier period.

The normalized profit margin climbed to 3.6% from 3.1% in the year-earlier period.

Total revenue decreased 8.2% on an annual basis to €1.66 billion from €1.80 billion, and total operating expenses declined 8.1% from the prior-year period to €1.56 billion from €1.69 billion.

Reported net income fell 10.6% from the prior-year period to €61.9 million, or 3 cents per share, from €69.2 million, or 4 cents per share.