171751
172285


High Liner Foods reports US$7.4-million Q4 profit

High Liner back to profit

High Liner Foods Inc. says it earned a profit in its latest quarter compared with a loss a year ago even as its sales declined.

The frozen seafood company, which keeps its books in U.S. dollars, says it earned US$7.4 million or 21 cents per share for the quarter ended Jan. 2, compared with a loss of US$3 million or nine cents per share a year earlier.

Sales for the quarter fell to US$198.4 million compared with US$221.6 million for the fourth quarter of 2019.

Sales volumes totalled 59.6 million pounds, down from 59.7 million pounds.

On an adjusted basis, High Liner says it earned 29 cents per share for its most recent quarter, up from an adjusted profit of 17 cents per share a year earlier.

Analysts on average had expected an adjusted profit of 28 cents per share and $213 million in revenue, according to financial data firm Refinitiv.



More Business News

169553
Data from CryptoCompare
RECENT STORIES
172143
170292
Castanet Proud Member of RTNDA Canada
169184
Press Room
172308
172299