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Gan Shmuel Foods Q2 profit climbs YOY

Gan Shmuel Foods Ltd. said its second-quarter normalized net income was 19 cents per share, an increase from 4 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 $2.8 million, a gain from $530,000 in the year-earlier period.

The normalized profit margin climbed to 4.2% from 0.8% in the year-earlier period.

Total revenue increased 5.9% year over year to $66.8 million from $63.1 million, and total operating expenses came to $61.8 million, compared with $62.0 million in the year-earlier period.

Reported net income increased on an annual basis to $4.3 million, or 29 cents per share, from $900,000, or 6 cents per share.