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Avgol Q3 profit climbs YOY

Avgol Industries 1953 Ltd. said its third-quarter normalized net income amounted to 2 cents per share, a gain from 2 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 $5.8 million, a gain from $5.7 million in the year-earlier period.

The normalized profit margin climbed to 6.9% from 5.9% in the year-earlier period.

Total revenue decreased 12.7% on an annual basis to $84.7 million from $97.0 million, and total operating expenses decreased 14.6% on an annual basis to $74.5 million from $87.2 million.

Reported net income rose year over year to $7.1 million, or 2 cents per share, from $6.9 million, or 2 cents per share.