Corby Spirit & Wine Ltd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, amounted to 17 Canadian cents per share, a decline of 23.5% from 22 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 C$4.9 million, a decrease of 23.5% from C$6.4 million in the prior-year period.
The normalized profit margin fell to 12.9% from 16.6% in the year-earlier period.
Total revenue fell year over year to C$38.0 million from C$38.5 million, and total operating expenses grew 5.6% year over year to C$30.6 million from C$29.0 million.
Reported net income decreased 23.1% year over year to C$5.7 million, or 20 cents per share, from C$7.4 million, or 26 cents per share.
