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Determine fiscal Q3 loss narrows YOY

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Determine fiscal Q3 loss narrows YOY

Determine Inc. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, came to a loss of 17 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 19 cents per share.

The per-share loss narrowed 43.8% year over year from 30 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $1.9 million, compared with a loss of $2.4 million in the year-earlier period.

The normalized profit margin climbed to negative 25.9% from negative 40.1% in the year-earlier period.

Total revenue rose 18.6% on an annual basis to $7.1 million from $6.0 million, and total operating expenses grew from the prior-year period to $10.0 million from $9.9 million.

Reported net income came to a loss of $2.8 million, or a loss of 25 cents per share, compared to a loss of $3.8 million, or a loss of 49 cents per share, in the prior-year period.