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Oil-Dri Corp. of America fiscal Q3 profit climbs YOY

Oil-Dri Corp. of America said its normalized net income for the fiscal third quarter ended April 30 came to 17 cents per share, a gain from 8 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $1.2 million, a gain from $539,380 in the year-earlier period.

The normalized profit margin climbed to 1.8% from 0.8% in the year-earlier period.

Total revenue fell on an annual basis to $65.2 million from $67.4 million, and total operating expenses decreased from the prior-year period to $63.3 million from $66.4 million.

Reported net income increased 90.9% from the prior-year period to $1.3 million, or 19 cents per share, from $701,300, or 10 cents per share.