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JB Foods swings to profit in Q2

JB Foods Ltd said its normalized net income for the second quarter was $530,000, compared with a loss of $273,380 in the year-earlier period.

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

The normalized profit margin rose to 0.7% from negative 0.6% in the year-earlier period.

Total revenue increased 77.1% on an annual basis to $74.8 million from $42.2 million, and total operating expenses increased 74.4% from the prior-year period to $73.5 million from $42.1 million.

Reported net income came to $787,000, or 0 cents per share, compared to a loss of $375,000, or a loss of 0 cents per share, in the prior-year period.