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Sunora Foods Q3 profit falls YOY

Sunora Foods Inc. said its third-quarter normalized net income came to C$108,190, a decline of 36.2% from C$169,460 in the prior-year period.

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

The normalized profit margin declined to 3.3% from 6.9% in the year-earlier period.

Total revenue increased 33.8% year over year to C$3.3 million from C$2.5 million, and total operating expenses increased 38.9% year over year to C$3.1 million from C$2.2 million.

Reported net income fell 40.3% year over year to C$126,760, or 0 cents per share, from C$212,190, or 0 cents per share.