Simonds Group Ltd. said its normalized net income for the fiscal first half ended Dec. 31, 2014, was a loss of 8 Australian cents per share, compared with 4 cents 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 A$10.9 million, compared with income of A$6.1 million in the year-earlier period.
Total revenue grew 8.6% on an annual basis to A$299.2 million from A$275.4 million, and total operating expenses grew 17.6% from the prior-year period to A$312.2 million from A$265.4 million.
Reported net income came to a loss of A$20.8 million, or a loss of 14 cents per share, compared to income of A$2.9 million, or 2 cents per share, in the year-earlier period.
