MFC Industrial Q3 Profit Declines - Quick Facts

(RTTNews) - MFC Industrial Ltd. (MIL) reported third-quarter net income attributable to owners of the parent company of $6.98 million or $0.11 per share, compared to $224.14 million or $3.58 per share, last year.

The company said the decline in profit was primarily due to the recognition of a bargain purchase of $225.2 million, or $3.60 per share, in the 2012 period, higher costs of sales and the flooding in Alberta, Canada.

Income from operations was $4.22 million, compared to $5.46 million, prior year.

Net sales rose to $213.42 million, from $118.60 million, a year ago.