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Advanced Braking Technology fiscal H1 loss narrows YOY

Advanced Braking Technology Ltd. said its normalized net income for the fiscal first half ended Dec. 31, 2014, amounted to a loss of A$418,750, compared with a loss of A$1.3 million in the year-earlier period.

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

Total revenue grew 65.5% year over year to A$2.8 million from A$1.7 million, and total operating expenses decreased 11.7% from the prior-year period to A$3.3 million from A$3.7 million.

Reported net income came to a loss of A$2.4 million, or a loss of 0 cents per share, compared to a loss of A$2.1 million, or a loss of 0 cents per share, in the prior-year period.