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Coffee Holding fiscal Q1 profit climbs YOY

Coffee Holding Co. Inc. said its normalized net income for the fiscal first quarter ended Jan. 31 came to $449,640, a gain from $19,180 in the year-earlier period.

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

The normalized profit margin rose to 2.0% from 0.0% in the year-earlier period.

Total revenue declined 40.6% on an annual basis to $22.8 million from $38.4 million, and total operating expenses decreased 42.6% on an annual basis to $22.0 million from $38.3 million.

Reported net income increased from the prior-year period to $439,570, or 7 cents per share, from $71,800, or 1 cents per share.