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Castle Brands fiscal Q3 loss narrows YOY

Castle Brands Inc. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was a loss of $312,190, compared with a loss of $1.6 million in the prior-year period.

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

The normalized profit margin rose to negative 2.2% from negative 13.3% in the year-earlier period.

Total revenue climbed 19.7% on an annual basis to $14.3 million from $11.9 million, and total operating expenses grew 17.3% from the prior-year period to $14.1 million from $12.0 million.

Reported net income totaled a loss of $591,000, or a loss of 0 cents per share, compared to a loss of $2.6 million, or a loss of 2 cents per share, in the prior-year period.