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JB Foods swings to profit in Q3

JB Foods Ltd said its third-quarter normalized net income amounted to $373,130, compared with a loss of $2.1 million in the prior-year period.

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

The normalized profit margin rose to 0.6% from negative 3.7% in the year-earlier period.

Total revenue rose 11.3% on an annual basis to $62.3 million from $56.0 million, and total operating expenses climbed year over year to $60.5 million from $59.8 million.

Reported net income totaled $695,000, or 0 cents per share, compared to a loss of $3.3 million, or a loss of 2 cents per share, in the prior-year period.