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American Lorain Q3 profit climbs 63.7% YOY

American Lorain Corp. said its third-quarter normalized net income amounted to 6 cents per share, an increase of 48.7% from 4 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $2.2 million, a gain of 63.7% from $1.3 million in the prior-year period.

The normalized profit margin climbed to 4.5% from 2.4% in the year-earlier period.

Total revenue decreased 13.7% on an annual basis to $47.7 million from $55.3 million, and total operating expenses declined 16.9% on an annual basis to $43.6 million from $52.5 million.

Reported net income grew from the prior-year period to $2.3 million, or 6 cents per share, from $1.0 million, or 3 cents per share.