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AS-IP Tech fiscal Q2 loss narrows YOY

AS-IP Tech Inc. said its normalized net income for the fiscal second quarter ended Dec. 31, 2015, was a loss of $8,720, compared with a loss of $15,490 in the prior-year period.

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

The normalized profit margin was 73.7%.

Total revenue increased on an annual basis to $11,830 from $3,050, and total operating expenses fell 18.0% from the prior-year period to $22,820 from $27,820.

Reported net income came to a loss of $13,950, or a loss of 0 cents per share, compared to a loss of $24,780, or a loss of 0 cents per share, in the prior-year period.