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Global Gardens fiscal Q4 loss widens YOY

Global Gardens Group Inc. said its normalized net income for the fiscal fourth quarter ended Sept. 30, 2015, was a loss of C$399,840, compared with a loss of C$174,560 in the prior-year period.

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

Reported net income came to a loss of C$639,740, or a loss of 1 cents per share, compared to a loss of C$279,300, or a loss of 2 cents per share, in the year-earlier period.

For the year, the company's normalized net income totaled a loss of 4 cents per share, compared with a loss of 4 cents per share in the prior year.

Normalized net income was a loss of C$1.2 million, compared with a loss of C$620,270 in the prior year.

The company said reported net income totaled a loss of C$6.9 million, or a loss of 24 cents per share, in the full year, compared with a loss of C$992,440, or a loss of 7 cents per share, the prior year.