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Lassonde Industries fiscal Q1 profit climbs 12.1% YOY

Lassonde Industries Inc. said its normalized net income for the fiscal first quarter ended March 28 was 98 Canadian cents per share, an increase of 12.1% from 87 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 C$6.8 million, a gain of 12.1% from C$6.1 million in the prior-year period.

The normalized profit margin declined to 2.1% from 2.5% in the year-earlier period.

Total revenue grew 34.2% year over year to C$327.7 million from C$244.2 million, and total operating expenses rose 35.1% from the prior-year period to C$310.7 million from C$229.9 million.

Reported net income rose 9.5% year over year to C$7.8 million, or C$1.11 per share, from C$7.1 million, or C$1.01 per share.