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Sunora Foods swings to profit in Q1

Sunora Foods Inc. said its normalized net income for the first quarter came to C$199,960, compared with a loss of C$39,430 in the prior-year period.

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

The normalized profit margin rose to 7.3% from negative 1.3% in the year-earlier period.

Total revenue decreased 7.3% year over year to C$2.7 million from C$3.0 million, and total operating expenses fell 16.5% on an annual basis to C$2.6 million from C$3.1 million.

Reported net income came to C$240,240, or 1 cents per share, compared to a loss of C$58,790, or a loss of 0 cents per share, in the year-earlier period.