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LightPath Technologies swings to loss in fiscal Q2

LightPath Technologies Inc. said its normalized net income for the fiscal second quarter ended Dec. 31, 2015, came to a loss of $327,320, compared with income of $88,260 in the year-earlier period.

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

The normalized profit margin declined to negative 7.7% from 2.6% in the year-earlier period.

Total revenue grew 26.3% year over year to $4.2 million from $3.4 million, and total operating expenses decreased year over year to $3.6 million from $3.8 million.

Reported net income came to a loss of $610,010, or a loss of 4 cents per share, compared to income of $154,200, or 1 cents per share, in the year-earlier period.