Avgol Industries 1953 Ltd said its normalized net income for the third quarter came to 2 cents per share, a decline from 2 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 $5.7 million, a decrease from $5.8 million in the year-earlier period.

The normalized profit margin declined to 6.6% from 6.9% in the year-earlier period.

Total revenue increased on an annual basis to $86.0 million from $84.7 million, and total operating expenses fell on an annual basis to $73.0 million from $74.5 million.

Reported net income declined 12.2% year over year to $6.2 million, or 2 cents per share, from $7.1 million, or 2 cents per share.