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Alliance One International fiscal Q1 loss narrows YOY

Alliance One International Inc. said its normalized net income for the fiscal first quarter ended June 30 was a loss of $1.53 per share, compared with a loss of $2.42 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $13.5 million, compared with a loss of $21.2 million in the year-earlier period.

The normalized profit margin declined to negative 5.9% from negative 5.5% in the year-earlier period.

Total revenue declined 35.1% year over year to $249.0 million from $383.9 million, and total operating expenses declined 37.3% on an annual basis to $244.4 million from $389.6 million.

Reported net income came to a loss of $18.5 million, or a loss of $2.12 per share, compared to a loss of $36.7 million, or a loss of $4.21 per share, in the year-earlier period.