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Crystal Rock Holdings swings to profit in fiscal Q2

Crystal Rock Holdings Inc. said its normalized net income for the fiscal second quarter ended April 30 amounted to 1 cents per share, compared with a loss of 3 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 $241,410, compared with a loss of $646,510 in the year-earlier period.

The normalized profit margin increased to 1.4% from negative 3.5% in the year-earlier period.

Total revenue decreased 10.8% on an annual basis to $16.7 million from $18.7 million, and total operating expenses decreased 17.9% on an annual basis to $15.9 million from $19.4 million.

Reported net income totaled $213,580, or 1 cents per share, compared to a loss of $640,750, or a loss of 3 cents per share, in the year-earlier period.