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Darling Ingredients swings to loss in fiscal Q3

Darling Ingredients Inc. said its normalized net income for the fiscal third quarter ended Oct. 3 amounted to a loss of $616,250, compared with income of $16.7 million in the third quarter ended Sept. 27, 2014.

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

The normalized profit margin dropped to negative 0.1% from 1.7% in the year-earlier period.

Total revenue fell 12.8% on an annual basis to $853.8 million from $978.7 million, and total operating expenses fell 12.2% from the prior-year period to $813.7 million from $926.5 million.

Reported net income came to a loss of $9.9 million, or a loss of 6 cents per share, compared to income of $14.8 million, or 9 cents per share, in the third quarter ended Sept. 27, 2014.