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Gear4Music fiscal H1 loss narrows YOY

Gear4music (Holdings) plc said its normalized net income for the fiscal first half ended Aug. 31 was a loss of 3 Great British pence per share, compared with a loss of 5 pence per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of £280,630, compared with a loss of £576,250 in the prior-year period.

Total revenue rose 42.5% year over year to £12.5 million from £8.8 million, and total operating expenses climbed 36.7% from the prior-year period to £12.6 million from £9.2 million.

Reported net income came to a loss of £1.1 million, or a loss of 10 pence per share, compared to a loss of £902,000, or a loss of 7 pence per share, in the year-earlier period.