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Sunshine Agri-Tech Q3 loss narrows YOY

Sunshine Agri-Tech Inc. said its third-quarter normalized net income amounted to a loss of C$118,160, compared with a loss of C$124,290 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 negative 10.3% from negative 7.1% in the year-earlier period.

Total revenue fell 34.5% on an annual basis to C$1.2 million from C$1.8 million, and total operating expenses fell 26.1% from the prior-year period to C$1.4 million from C$1.9 million.

Reported net income came to a loss of C$245,570, or a loss of 0 cents per share, compared to a loss of C$216,020, or a loss of 0 cents per share, in the year-earlier period.