RYU Apparel Inc. said its normalized net income for the third quarter amounted to a loss of C$887,610, compared with a loss of C$2.4 million in the prior-year period.

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

The normalized profit margin was 267.6%.

Total revenue rose on an annual basis to C$362,230 from C$144,590, and total operating expenses declined on an annual basis to C$1.9 million from C$2.0 million.

Reported net income came to a loss of C$1.4 million, or a loss of 1 cents per share, compared to a loss of C$3.9 million, or a loss of 5 cents per share, in the prior-year period.