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Neptune Technologies fiscal Q2 loss widens 45.6% YOY

Neptune Technologies & Bioressources Inc. said its normalized net income for the fiscal second quarter ended Aug. 31 came to a loss of 9 Canadian cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 6 cents per share.

The per-share loss increased 17.8% year over year from 8 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of C$7.0 million, compared with a loss of C$4.8 million in the prior-year period.

The normalized profit margin declined to negative 266.4% from negative 89.8% in the year-earlier period.

Total revenue declined 50.9% year over year to C$2.6 million from C$5.3 million, and total operating expenses climbed 8.4% on an annual basis to C$16.8 million from C$15.5 million.

Reported net income came to a loss of C$12.7 million, or a loss of 17 cents per share, compared to a loss of C$3.6 million, or a loss of 6 cents per share, in the year-earlier period.