Canadian coffee roaster Van Houtte said third-quarter profit fell due to internal restructuring and the continued softness of the market.
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The Montreal-based company said it earned C$5.13m (US$3.37m), or 24 cents a share, in the quarter to 4 January, compared to $5.31m, or 28 cents a share, in the year-ago period.
Analysts polled by Multex had forecast earnings of 21 cents per share, reported Reuters.
Van Houtte, which operates office coffee services in 98 North American cities, restructured its corporate operations last year in a bid to reduce costs.
The company reported quarterly revenue of $75.36m compared to $74.65m a year earlier, while coffee shipments increased 4.6% to 5.6 million pounds.
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