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IMC SA Q3 loss narrows YOY

IMC SA said its normalized net income for the third quarter came to a loss of 15 cents per share, compared with a loss of 27 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $4.6 million, compared with a loss of $8.3 million in the year-earlier period.

The normalized profit margin rose to negative 17.3% from negative 53.1% in the year-earlier period.

Total revenue increased 68.3% on an annual basis to $26.3 million from $15.6 million, and total operating expenses grew 49.2% on an annual basis to $29.3 million from $19.6 million.

Reported net income totaled a loss of $6.8 million, or a loss of 22 cents per share, compared to a loss of $14.4 million, or a loss of 46 cents per share, in the prior-year period.