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Inspired Entertainment fiscal Q3 loss narrows YOY

Inspired Entertainment Inc. said its normalized net income for the fiscal third quarter ended June 30 amounted to a loss of $6.5 million, compared with a loss of $7.3 million in the third quarter ended July 4, 2015.

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

The normalized profit margin fell to negative 27.2% from negative 22.1% in the year-earlier period.

Total revenue declined 19.1% year over year to $26.9 million from $33.2 million, and total operating expenses fell 22.4% on an annual basis to $24.3 million from $31.3 million.

Reported net income came to a loss of $11.7 million, or a loss of $1.23 per share, compared to a loss of $12.8 million in the third quarter ended July 4, 2015.