Coffee Holding Co. Inc. said its normalized net income for the fiscal first quarter ended Jan. 31 was $19,180, a fall of 98.6% from $1.4 million 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 0.0% from 5.0% in the year-earlier period.
Total revenue grew 40.4% year over year to $38.4 million from $27.3 million, and total operating expenses increased 52.6% year over year to $38.3 million from $25.1 million.
Reported net income declined 95.5% year over year to $62,160, or 1 cent per share, from $1.4 million, or 21 cents per share.
