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Ricebran Technologies Q4 loss narrows YOY

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Ricebran Technologies Q4 loss narrows YOY

Ricebran Technologies said its normalized net income for the fourth quarter was a loss of 9 cents per share, compared with a loss of 17 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $788,380, compared with a loss of $1.4 million in the year-earlier period.

The normalized profit margin climbed to negative 8.0% from negative 12.8% in the year-earlier period.

Total revenue decreased 7.1% year over year to $9.9 million from $10.7 million, and total operating expenses fell 24.3% on an annual basis to $10.4 million from $13.7 million.

Reported net income totaled a loss of $1.2 million, or a loss of 13 cents per share, compared to a loss of $2.4 million, or a loss of 30 cents per share, in the year-earlier period.

For the year, the company's normalized net income totaled a loss of 35 cents per share, compared with a loss of $2.26 per share in the prior year.

Normalized net income was a loss of $3.2 million, compared with a loss of $13.1 million in the prior year.

Full-year total revenue amounted to $39.9 million, compared with $40.1 million in the prior year, and total operating expenses declined 12.2% on an annual basis to $46.2 million from $52.6 million.

The company said reported net income totaled a loss of $8.3 million, or a loss of 90 cents per share, in the full year, compared with a loss of $23.0 million, or a loss of $3.96 per share, the prior year.