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Digerati Technologies fiscal Q2 loss widens 43.0% YOY

Digerati Technologies Inc. said its normalized net income for the fiscal second quarter ended Jan. 31 was a loss of 5 cents per share, compared with a loss of 6 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 $236,880, compared with a loss of $165,630 in the prior-year period.

Total revenue fell 23.0% year over year to $57,000 from $74,000, and total operating expenses increased 29.0% from the prior-year period to $436,000 from $338,000.

Reported net income came to a loss of $379,000, or a loss of 7 cents per share, compared to a loss of $272,000, or a loss of 11 cents per share, in the prior-year period.