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Caribbean Producers fiscal Q2 profit climbs YOY

Caribbean Producers (Jamaica) Ltd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, amounted to $758,580, a rise from $735,760 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 3.3% from 3.6% in the year-earlier period.

Total revenue increased 12.9% on an annual basis to $23.1 million from $20.5 million, and total operating expenses climbed 14.7% from the prior-year period to $21.5 million from $18.8 million.

Reported net income declined from the prior-year period to $1.1 million, or 0 cents per share, from $1.2 million, or 0 cents per share.