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Cham Foods (Israel) swings to profit in Q2

Cham Foods (Israel) Ltd. said its second-quarter normalized net income amounted to $195,630, compared with a loss of $876,880 in the year-earlier period.

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

The normalized profit margin rose to 5.5% from negative 23.9% in the year-earlier period.

Total revenue fell year over year to $3.6 million from $3.7 million, and total operating expenses declined 6.9% from the prior-year period to $3.6 million from $3.9 million.

Reported net income came to $313,000, or 1 cents per share, compared to a loss of $998,000, or a loss of 4 cents per share, in the year-earlier period.