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Mewah International Q3 profit climbs 70.8% YOY

Mewah International Inc. said its normalized net income for the third quarter was $1.3 million, an increase of 70.8% from $751,000 in the prior-year period.

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

The normalized profit margin climbed to 0.2% from 0.1% in the year-earlier period.

Total revenue decreased 19.8% on an annual basis to $746.6 million from $930.5 million, and total operating expenses decreased 23.3% year over year to $710.9 million from $926.9 million.

Reported net income increased 6.8% from the prior-year period to $1.3 million, or 0 cents per share, from $1.3 million, or 0 cents per share.