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Canyon Creek Food fiscal Q3 loss narrows YOY

Canyon Creek Food Co. Ltd. said its normalized net income for the fiscal third quarter ended Feb. 28 amounted to a loss of C$231,790, compared with a loss of C$292,970 in the year-earlier period.

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

The normalized profit margin rose to negative 22.0% from negative 42.5% in the year-earlier period.

Total revenue grew 52.9% on an annual basis to C$1.1 million from C$688,570, and total operating expenses rose 21.0% year over year to C$1.2 million from C$964,050.

Reported net income came to a loss of C$370,860, or a loss of 1 cents per share, compared to a loss of C$468,760, or a loss of 1 cents per share, in the prior-year period.