The Scottish Salmon Co. PLC said its third-quarter normalized net income came to £448,130, compared with a loss of £3.6 million in the year-earlier period.

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

The normalized profit margin increased to 2.5% from negative 10.6% in the year-earlier period.

Total revenue fell 46.6% year over year to £18.0 million from £33.6 million, and total operating expenses declined 54.7% year over year to £17.3 million from £38.1 million.

Reported net income totaled £441,000, or 0 pence per share, compared to a loss of £4.6 million, or a loss of 3 pence per share, in the year-earlier period.