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Byte Power Group swings to loss in fiscal year

Byte Power Group Ltd. said its normalized net income for the fiscal full year ended June 30 came to a loss of A$471,590, compared with income of A$217,860 in the year-earlier period.

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

The normalized profit margin dropped to negative 13.8% from 4.8% in the year-earlier period.

Total revenue decreased 32.1% on an annual basis to A$3.1 million from A$4.5 million, and total operating expenses declined 19.8% year over year to A$3.2 million from A$4.0 million.

Reported net income came to a loss of A$759,070, or a loss of 0 cents per share, compared to income of A$357,210, or 0 cents per share, in the prior-year period.