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Fuling Global Q2 profit climbs YOY

Fuling Global Inc. said its second-quarter normalized net income was 15 cents per share, a decrease of 23.1% from 19 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 $2.3 million, a gain from $2.2 million in the prior-year period.

The normalized profit margin climbed to 13.2% from 8.9% in the year-earlier period.

Total revenue decreased year over year to $24.6 million from $25.1 million, and total operating expenses fell on an annual basis to $20.9 million from $21.1 million.

Reported net income rose 55.6% on an annual basis to $4.7 million, or 30 cents per share, from $3.0 million, or 26 cents per share.