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American Lorain Q1 profit falls YOY

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American Lorain Q1 profit falls YOY

American Lorain Corp. said its normalized net income for the first quarter came to $204,210, a fall of 85.5% from $1.4 million in the prior-year period.

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

The normalized profit margin declined to 0.5% from 4.4% in the year-earlier period.

Total revenue grew 18.5% year over year to $37.6 million from $31.7 million, and total operating expenses climbed 27.6% from the prior-year period to $36.7 million from $28.7 million.

Reported net income totaled a loss of $497,110, or a loss of 1 cents per share, compared to income of $1.7 million, or 5 cents per share, in the year-earlier period.