Imperial Ginseng Products Ltd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, amounted to 5 Canadian cents per share, a decline of 71.8% from 18 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 C$365,440, a decline of 50.3% from C$735,420 in the year-earlier period.
The normalized profit margin increased to 9.2% from 8.8% in the year-earlier period.
Total revenue declined 52.1% year over year to C$4.0 million from C$8.3 million, and total operating expenses declined 52.1% year over year to C$3.4 million from C$7.1 million.
Reported net income grew 11.7% on an annual basis to C$3.2 million, or 45 cents per share, from C$2.9 million, or 71 cents per share.
