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Sparta Commercial Services fiscal Q3 loss widens 10.1% YOY

Sparta Commercial Services Inc. said its normalized net income for the fiscal third quarter ended Jan. 31 came to a loss of $898,620, compared with a loss of $816,460 in the prior-year period.

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

Total revenue fell 6.8% year over year to $153,200 from $164,420, and total operating expenses fell 31.3% from the prior-year period to $687,370 from $1.0 million.

Reported net income totaled a loss of $1.4 million, or a loss of 1 cents per share, compared to a loss of $1.3 million, or a loss of 6 cents per share, in the prior-year period.