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Sunshine Agri-Tech Q3 loss widens YOY

Sunshine Agri-Tech Inc. said its normalized net income for the third quarter came to a loss of C$124,290, compared with a loss of C$5,180 in the prior-year period.

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

The normalized profit margin dropped to negative 7.1% from negative 0.3% in the year-earlier period.

Total revenue decreased 9.3% year over year to C$1.8 million from C$1.9 million, and total operating expenses declined on an annual basis to C$1.9 million from C$2.0 million.

Reported net income totaled a loss of C$216,020, or a loss of 0 cents per share, compared to a loss of C$72,010, or a loss of 0 cents per share, in the prior-year period.