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Camanchaca Q2 profit falls YOY

Compañía Pesquera Camanchaca SA said its normalized net income for the second quarter was $2.7 million, a fall of 61.9% from $7.1 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 dropped to 2.6% from 5.1% in the year-earlier period.

Total revenue fell 25.5% year over year to $104.9 million from $140.8 million, and total operating expenses decreased 22.3% on an annual basis to $97.3 million from $125.2 million.

Reported net income declined 45.5% from the prior-year period to $6.1 million, or 0 cents per share, from $11.2 million, or 0 cents per share.