A&W Revenue Royalties Income Fund said its normalized net income for the fiscal first quarter ended March 22 came to 10 Canadian cents per share, a decline of 21.3% from 13 cents per share in the prior-year period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was C$1.2 million, a decrease of 21.3% from C$1.5 million in the year-earlier period.
The normalized profit margin fell to 20.0% from 28.0% in the year-earlier period.
Total revenue climbed 10.3% year over year to C$6.1 million from C$5.5 million, and total operating expenses increased 8.4% year over year to C$259,000 from C$239,000.
Reported net income fell 20.1% on an annual basis to C$1.7 million, or 14 cents per share, from C$2.1 million, or 17 cents per share.
