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Performance Food Group swings to profit in fiscal Q3

Performance Food Group Company said its normalized net income for the fiscal third quarter ended March 28 came to 4 cents per share, compared with a loss of 2 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $3.3 million, compared with a loss of $1.4 million in the year-earlier period.

The normalized profit margin climbed to 0.1% from negative 0.0% in the year-earlier period.

Total revenue climbed 12.5% year over year to $3.80 billion from $3.37 billion, and total operating expenses climbed 12.3% year over year to $3.77 billion from $3.35 billion.

Reported net income totaled $3.6 million, or 3 cents per share, compared to a loss of $639,000, or a loss of 1 cents per share, in the year-earlier period.