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Solbright fiscal Q2 loss widens YOY

Solbright Group Inc. said its normalized net income for the fiscal second quarter ended Nov. 30, 2015, came to a loss of 4 cents per share, compared with a loss of 3 cents 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 $434,520, compared with a loss of $176,480 in the year-earlier period.

The normalized profit margin increased to negative 53.3% from negative 223.4% in the year-earlier period.

Total revenue increased year over year to $815,220 from $79,000, and total operating expenses grew from the prior-year period to $1.5 million from $342,440.

Reported net income totaled a loss of $695,220, or a loss of 6 cents per share, compared to a loss of $202,460, or a loss of 4 cents per share, in the prior-year period.