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Lassonde Industries fiscal Q2 profit climbs 31.5% YOY

Lassonde Industries Inc. said its normalized net income for the fiscal second quarter ended June 27 amounted to C$1.83 per share, a gain of 31.5% from C$1.39 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$12.8 million, a gain of 31.5% from C$9.7 million in the year-earlier period.

The normalized profit margin increased to 3.6% from 3.6% in the year-earlier period.

Total revenue climbed 31.0% on an annual basis to C$356.8 million from C$272.4 million, and total operating expenses grew 30.7% from the prior-year period to C$327.4 million from C$250.5 million.

Reported net income grew 26.3% from the prior-year period to C$14.2 million, or C$2.03 per share, from C$11.2 million, or C$1.61 per share.