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Royal Hawaiian Orchards Q1 loss narrows YOY

Royal Hawaiian Orchards L.P. said its normalized net income for the first quarter was a loss of 3 cents per share, compared with a loss of 3 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $366,880, compared with a loss of $383,130 in the year-earlier period.

The normalized profit margin increased to negative 7.6% from negative 11.0% in the year-earlier period.

Total revenue grew 66.3% year over year to $5.8 million from $3.5 million, and total operating expenses climbed 67.5% from the prior-year period to $6.2 million from $3.7 million.

Reported net income came to a loss of $629,000, or a loss of 6 cents per share, compared to a loss of $658,000, or a loss of 6 cents per share, in the prior-year period.