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Ominto fiscal Q2 loss widens 51.5% YOY

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Ominto fiscal Q2 loss widens 51.5% YOY

Ominto Inc. said its normalized net income for the fiscal second quarter ended March 31 came to a loss of 16 cents per share, compared with a loss of 14 cents per share in the year-earlier period.

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 $1.3 million in the year-earlier period.

The normalized profit margin dropped to negative 47.5% from negative 32.7% in the year-earlier period.

Total revenue grew year over year to $4.0 million from $3.8 million, and total operating expenses rose 21.5% on an annual basis to $6.8 million from $5.6 million.

Reported net income came to a loss of $3.0 million, or a loss of 25 cents per share, compared to a loss of $2.0 million, or a loss of 23 cents per share, in the year-earlier period.