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Alta Natural Herbs swings to loss in fiscal Q1

Alta Natural Herbs & Supplements Ltd. said its normalized net income for the fiscal first quarter ended Jan. 31 amounted to a loss of C$53,690, compared with income of C$8,130 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 30.5% from 7.9% in the year-earlier period.

Total revenue increased 71.7% year over year to C$176,070 from C$102,550, and total operating expenses rose on an annual basis to C$267,540 from C$112,370.

Reported net income totaled a loss of C$85,900, or a loss of 0 cents per share, compared to income of C$13,010, or 0 cents per share, in the prior-year period.