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LangTech International fiscal-year loss widens YOY

LangTech International Pty Ltd. said its normalized net income for the fiscal full year ended June 30 amounted to a loss of A$2.1 million, compared with a loss of A$88,160 in the prior-year period.

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

The normalized profit margin fell to negative 14.0% from negative 0.5% in the year-earlier period.

Total revenue grew 16.0% year over year to A$19.7 million from A$17.0 million, and total operating expenses increased 27.6% from the prior-year period to A$25.2 million from A$19.8 million.

Reported net income came to a loss of A$5.1 million, or a loss of 4 cents per share, compared to a loss of A$2.4 million, or a loss of 16 cents per share, in the prior-year period.