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Cipherloc fiscal Q2 loss narrows YOY

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Cipherloc fiscal Q2 loss narrows YOY

Cipherloc Corp. said its normalized net income for the fiscal second quarter ended March 31 was a loss of 4 cents per share, compared with a loss of $2.25 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $174,900, compared with a loss of $6.4 million in the year-earlier period.

The normalized profit margin was 155.5%.

Total revenue came to $112,500, and total operating expenses decreased 96.2% year over year to $392,340 from $10.2 million.

Reported net income came to a loss of $235,930, or a loss of 5 cents per share, compared to a loss of $10.4 million, or a loss of $3.68 per share, in the year-earlier period.