Veritas Investments Ltd. said its normalized net income for the fiscal first half ended Dec. 31, 2014, was 4 New Zealand cents per share, a decline of 13.3% from 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 NZ$1.6 million, a decline of 9.3% from NZ$1.8 million in the prior-year period.
Total revenue increased 88.8% year over year to NZ$27.4 million from NZ$14.5 million, and total operating expenses increased from the prior-year period to NZ$24.8 million from NZ$11.8 million.
Reported net income declined 14.1% from the prior-year period to NZ$1.8 million, or 5 cents per share, from NZ$2.0 million, or 6 cents per share.
As of Feb. 26, US$1 was equivalent to NZ$1.32.
