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Focusrite fiscal H1 profit falls YOY

Focusrite PLC said its normalized net income for the fiscal first half ended Feb. 29 amounted to 3 Great British pence per share, a decline of 28.8% from 4 pence per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was £1.5 million, a decrease of 30.2% from £2.2 million in the year-earlier period.

Total revenue rose 8.7% on an annual basis to £25.9 million from £23.8 million, and total operating expenses increased 9.0% on an annual basis to £22.7 million from £20.8 million.

Reported net income declined 24.5% on an annual basis to £2.2 million, or 4 pence per share, from £2.9 million, or 5 pence per share.