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Transense Technologies fiscal H1 loss widens YOY

Transense Technologies PLC said its normalized net income for the fiscal first half ended Dec. 31, 2014, amounted to a loss of £1.1 million, compared with a loss of £52,500 in the prior-year period.

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

Total revenue fell 58.0% on an annual basis to £930,000 from £2.2 million, and total operating expenses grew 16.6% year over year to £2.7 million from £2.3 million.

Reported net income totaled a loss of £1.7 million, or a loss of 29 pence per share, compared to a loss of £84,000, or a loss of 2 pence per share, in the year-earlier period.