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UCW fiscal H1 loss narrows YOY

UCW Ltd. said its normalized net income for the fiscal first half ended Dec. 31, 2014, was a loss of A$34,160, compared with a loss of A$813,240 in the year-earlier period.

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

Total revenue declined 99.8% year over year to A$5,990 from A$2.4 million, and total operating expenses fell 98.1% from the prior-year period to A$60,650 from A$3.3 million.

Reported net income totaled a loss of A$54,660, or a loss of 1 cents per share, compared to a loss of A$1.3 million, or a loss of 53 cents per share, in the year-earlier period.