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Visualant fiscal Q1 loss narrows YOY

Know Labs, Inc. said its normalized net income for the fiscal first quarter ended Dec. 31, 2015, was a loss of $1.08 per share, compared with a loss of $1.76 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $1.3 million, compared with a loss of $2.0 million in the year-earlier period.

The normalized profit margin climbed to negative 97.9% from negative 107.0% in the year-earlier period.

Total revenue declined 30.3% year over year to $1.3 million from $1.8 million, and total operating expenses fell 17.4% from the prior-year period to $1.9 million from $2.3 million.

Reported net income totaled a loss of $2.0 million, or a loss of $1.73 per share, compared to a loss of $3.2 million, or a loss of $2.82 per share, in the year-earlier period.