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Caribbean Producers fiscal Q3 profit climbs 14.8% YOY

Caribbean Producers (Jamaica) Ltd. said its normalized net income for the fiscal third quarter ended March 31 came to $797,090, a gain of 14.8% from $694,470 in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin increased to 3.5% from 3.4% in the year-earlier period.

Total revenue increased 13.0% on an annual basis to $23.1 million from $20.5 million, and total operating expenses climbed 13.1% year over year to $21.3 million from $18.8 million.

Reported net income increased 15.1% year over year to $1.3 million, or 0 cents per share, from $1.1 million, or 0 cents per share.