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Byte Power Group fiscal H1 profit falls YOY

Byte Power Group Ltd. said its normalized net income for the fiscal first half ended Dec. 31, 2015, was A$28,820, a decline of 55.7% from A$65,020 in the year-earlier period.

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

Total revenue grew 14.7% year over year to A$2.6 million from A$2.3 million, and total operating expenses rose 15.5% from the prior-year period to A$2.3 million from A$2.0 million.

Reported net income declined 55.7% year over year to A$46,120, or 0 cents per share, from A$104,040, or 0 cents per share.