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Alliance Select Foods Q1 profit falls YOY

Alliance Select Foods International, Inc. said its normalized net income for the first quarter amounted to $170,230, a decline of 27.6% from $234,990 in the year-earlier period.

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

The normalized profit margin dropped to 0.8% from 1.1% in the year-earlier period.

Total revenue totaled $21.4 million, compared with $21.4 million in the year-earlier period, and total operating expenses came to $20.7 million, compared with $20.7 million in the year-earlier period.

Reported net income declined 92.1% on an annual basis to $51,050, or 0 cents per share, from $646,250, or 0 cents per share.