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Cham Foods (Israel) Q1 profit falls YOY

Cham Foods (Israel) Ltd. said its first-quarter normalized net income came to $243,750, a decrease of 64.6% from $688,130 in the year-earlier period.

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

The normalized profit margin fell to 6.5% from 19.1% in the year-earlier period.

Total revenue rose on an annual basis to $3.8 million from $3.6 million, and total operating expenses declined from the prior-year period to $3.8 million from $3.9 million.

Reported net income decreased 54.1% on an annual basis to $329,000, or 1 cent per share, from $717,000, or 3 cents per share.