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Canyon Creek Food fiscal Q1 loss widens 7.0% YOY

Canyon Creek Food Co. Ltd. said its normalized net income for the fiscal first quarter ended Aug. 31 came to a loss of C$373,260, compared with a loss of C$348,720 in the year-earlier period.

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

The normalized profit margin was 108.2%.

Total revenue grew on an annual basis to C$344,860 from C$57,160, and total operating expenses grew 63.3% year over year to C$703,240 from C$430,720.

Reported net income totaled a loss of C$597,210, or a loss of 2 cents per share, compared to a loss of C$557,960, or a loss of 2 cents per share, in the year-earlier period.