Village Farms International Inc. said its third-quarter normalized net income amounted to a loss of $213,130, compared with a loss of $1.3 million in the year-earlier period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
The normalized profit margin climbed to negative 0.6% from negative 3.6% in the year-earlier period.
Total revenue increased year over year to $37.9 million from $36.6 million, and total operating expenses fell year over year to $37.6 million from $38.1 million.
Reported net income totaled a loss of $387,850, or a loss of 1 cents per share, compared to a loss of $1.6 million, or a loss of 4 cents per share, in the year-earlier period.