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Sunmoon Food swings to loss in Q3

Sunmoon Food Co. Ltd. said its third-quarter normalized net income came to a loss of S$627,500, compared with income of S$11,250 in the year-earlier period.

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

The normalized profit margin fell to negative 7.9% from 0.2% in the year-earlier period.

Total revenue climbed 36.5% year over year to S$8.0 million from S$5.9 million, and total operating expenses rose 48.3% on an annual basis to S$9.0 million from S$6.1 million.

Reported net income came to a loss of S$1.0 million, or a loss of 0 cents per share, compared to income of S$17,850, or 0 cents per share, in the prior-year period.

As of Nov. 11, US$1 was equivalent to S$1.41.