Coffee Holding Co. Inc. said its normalized net income for the fiscal fourth quarter ended Oct. 31, 2015, amounted to 8 cents per share, a decline of 66.0% from 24 cents per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $510,180, a decrease of 66.2% from $1.5 million in the year-earlier period.
The normalized profit margin fell to 2.3% from 5.1% in the year-earlier period.
Total revenue fell 23.9% on an annual basis to $22.4 million from $29.5 million, and total operating expenses decreased 20.6% year over year to $21.5 million from $27.1 million.
Reported net income declined 72.0% on an annual basis to $435,790, or 7 cents per share, from $1.6 million, or 25 cents per share.
For the year, the company's normalized net income totaled a loss of 22 cents per share, compared with 78 cents per share in the prior year.
Normalized net income was a loss of $1.4 million, compared with income of $4.9 million in the prior year.
Full-year total revenue rose 8.5% from the prior-year period to $118.2 million from $108.9 million, and total operating expenses increased 19.1% on an annual basis to $120.1 million from $100.9 million.
The company said reported net income came to a loss of $1.4 million, or a loss of 23 cents per share, in the full year, compared with income of $4.9 million, or 78 cents per share, the prior year.