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Atlas Pearls & Perfumes swings to loss in fiscal H1

Atlas Pearls & Perfumes Ltd. said its normalized net income for the fiscal first half ended Dec. 31, 2014, came to a loss of A$2.6 million, compared with income of A$25,960 in the prior-year period.

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

Total revenue declined 35.7% on an annual basis to A$6.0 million from A$9.3 million, and total operating expenses increased 15.8% year over year to A$10.4 million from A$9.0 million.

Reported net income came to a loss of A$7.0 million, or a loss of 2 cents per share, compared to income of A$200,140, or 0 cents per share, in the prior-year period.