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Caribbean Producers fiscal Q3 profit falls YOY

Caribbean Producers (Jamaica) Ltd. said its normalized net income for the fiscal third quarter ended March 31 came to $351,450, a fall of 56.1% from $800,460 in the year-earlier period.

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

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

Total revenue grew 5.4% year over year to $24.4 million from $23.1 million, and total operating expenses climbed 9.1% from the prior-year period to $23.3 million from $21.3 million.

Reported net income declined 53.7% from the prior-year period to $591,820, or 0 cents per share, from $1.3 million, or 0 cents per share.