SeaDragon Ltd. said its normalized net income for the fiscal first half ended Sept. 30 was a loss of NZ$430,000, compared with a loss of NZ$358,750 in the year-earlier period.

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

Total revenue grew on an annual basis to NZ$5.3 million from NZ$2.6 million, and total operating expenses grew 75.4% on an annual basis to NZ$5.8 million from NZ$3.3 million.

Reported net income came to a loss of NZ$688,000, or a loss of 0 cents per share, compared to a loss of NZ$574,000, or a loss of 0 cents per share, in the prior-year period.

As of Nov. 27, US$1 was equivalent to NZ$1.53.