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Sprintex fiscal H1 loss narrows YOY

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Sprintex fiscal H1 loss narrows YOY

Sprintex Ltd. said its normalized net income for the fiscal first half ended Dec. 31, 2015, amounted to a loss of A$387,170, compared with a loss of A$1.9 million in the prior-year period.

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

Total revenue increased year over year to A$1.0 million from A$291,860, and total operating expenses fell 50.2% year over year to A$1.5 million from A$3.0 million.

Reported net income came to a loss of A$920,710, or a loss of 1 cents per share, compared to a loss of A$5.1 million, or a loss of 22 cents per share, in the prior-year period.