Alliance One International Inc. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to 40 cents per share, a decrease of 74.7% from $1.57 per share in the prior-year period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $3.5 million, a decrease of 77.4% from $15.6 million in the year-earlier period.
The normalized profit margin declined to 0.7% from 2.4% in the year-earlier period.
Total revenue fell 25.3% on an annual basis to $488.9 million from $654.5 million, and total operating expenses fell 24.0% on an annual basis to $458.0 million from $602.5 million.
Reported net income decreased 87.2% year over year to $1.8 million, or 15 cents per share, from $13.8 million, or $1.39 per share.
