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Truett-Hurst swings to loss in fiscal Q3

Truett-Hurst Inc. said its normalized net income for the fiscal third quarter ended March 31 was a loss of 2 cents per share, compared with 8 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 a loss of $78,130, compared with income of $231,000 in the prior-year period.

The normalized profit margin fell to negative 1.5% from 4.5% in the year-earlier period.

Total revenue grew 19.2% on an annual basis to $6.2 million from $5.2 million, and total operating expenses rose 19.7% from the prior-year period to $6.5 million from $5.4 million.

Reported net income totaled a loss of $260,000, or a loss of 7 cents per share, compared to a loss of $184,000, or a loss of 6 cents per share, in the year-earlier period.