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IMC SA Q2 profit falls YOY


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IMC SA Q2 profit falls YOY

IMC SA said its normalized net income for the second quarter came to 49 cents per share, a decline of 54.2% from $1.07 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $15.4 million, a decrease of 54.2% from $33.6 million in the year-earlier period.

The normalized profit margin climbed to 89.3% from 80.6% in the year-earlier period.

Total revenue fell 33.8% on an annual basis to $27.6 million from $41.7 million.

Reported net income declined 54.4% from the prior-year period to $23.6 million, or 76 cents per share, from $51.8 million, or $1.66 per share.