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Neptune Technologies fiscal Q1 loss widens 36.2% YOY

Neptune Technologies & Bioressources Inc. said its normalized net income for the fiscal first quarter ended May 31 amounted to a loss of 5 Canadian cents per share, compared with a loss of 5 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 C$3.9 million, compared with a loss of C$2.9 million in the prior-year period.

The normalized profit margin fell to negative 106.0% from negative 47.2% in the year-earlier period.

Total revenue decreased 39.4% year over year to C$3.7 million from C$6.1 million, and total operating expenses grew 9.1% from the prior-year period to C$13.4 million from C$12.2 million.

Reported net income totaled a loss of C$4.7 million, or a loss of 6 cents per share, compared to a loss of C$4.5 million, or a loss of 7 cents per share, in the year-earlier period.