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JB Foods Q1 profit climbs 54.0% YOY

JB Foods Ltd said its normalized net income for the first quarter was $773,750, an increase of 54.0% from $502,500 in the prior-year period.

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

The normalized profit margin rose to 1.1% from 0.7% in the year-earlier period.

Total revenue declined year over year to $71.2 million from $74.9 million, and total operating expenses declined 5.4% from the prior-year period to $69.2 million from $73.2 million.

Reported net income grew 46.4% year over year to $1.2 million, or 1 cents per share, from $801,000, or 0 cents per share.