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Alliance Select Foods Q3 loss widens YOY

Alliance Select Foods International, Inc. said its third-quarter normalized net income amounted to a loss of $686,000, compared with a loss of $221,820 in the prior-year period.

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

The normalized profit margin fell to negative 4.8% from negative 1.3% in the year-earlier period.

Total revenue fell 17.3% on an annual basis to $14.3 million from $17.2 million, and total operating expenses fell 15.1% on an annual basis to $15.2 million from $17.9 million.

Reported net income totaled a loss of $1.0 million, or a loss of 0 cents per share, compared to a loss of $718,210, or a loss of 0 cents per share, in the prior-year period.