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Ricebran Technologies swings to profit in Q3

Ricebran Technologies said its third-quarter normalized net income came to $61,000, compared with a loss of $1.9 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 0.7% from negative 18.6% in the year-earlier period.

Total revenue fell 14.4% year over year to $8.9 million from $10.4 million, and total operating expenses declined 27.5% from the prior-year period to $10.3 million from $14.2 million.

Reported net income totaled a loss of $553,330, or a loss of 6 cents per share, compared to a loss of $3.7 million, or a loss of 47 cents per share, in the prior-year period.