Australis Seafoods SA said its normalized net income for the third quarter amounted to a loss of $4.9 million, compared with a loss of $13.6 million in the prior-year period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
The normalized profit margin increased to negative 4.8% from negative 28.1% in the year-earlier period.
Total revenue increased year over year to $102.0 million from $48.3 million, and total operating expenses grew 51.7% on an annual basis to $108.0 million from $71.2 million.
Reported net income came to $7.4 million, or 0 cents per share, compared to a loss of $14.4 million, or a loss of 0 cents per share, in the prior-year period.