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Leading Brands fiscal Q3 loss widens YOY

Leading Brands Inc. said its normalized net income for the fiscal third quarter ended Nov. 30, 2015, came to a loss of 12 Canadian cents per share, compared with a loss of 2 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 a loss of C$361,240, compared with a loss of C$72,880 in the year-earlier period.

The normalized profit margin fell to negative 16.3% from negative 2.6% in the year-earlier period.

Total revenue decreased 22.0% on an annual basis to C$2.2 million from C$2.8 million, and total operating expenses fell from the prior-year period to C$2.9 million from C$3.0 million.

Reported net income came to a loss of C$385,050, or a loss of 13 cents per share, compared to a loss of C$77,810, or a loss of 3 cents per share, in the year-earlier period.