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SunOpta profit misses consensus by 55.9% in fiscal Q3

SunOpta Inc. said its normalized net income for the fiscal third quarter ended Oct. 3 amounted to 3 cents per share, compared with the S&P Capital IQ consensus estimate of 7 cents per share.

EPS fell 66.4% year over year from 9 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $2.6 million, a decline of 57.2% from $6.1 million in the year-earlier period.

The normalized profit margin fell to 0.8% from 2.0% in the year-earlier period.

Total revenue came to $306.0 million, compared with $307.9 million in the year-earlier period, and total operating expenses climbed on an annual basis to $300.2 million from $296.5 million.

Reported net income totaled $442,000, or 1 cents per share, compared to a loss of $617,000, or a loss of 1 cents per share, in the year-earlier period.