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Clean Seas Seafood fiscal H1 loss widens YOY

Clean Seas Seafood Ltd said its normalized net income for the fiscal first half ended Dec. 31, 2015, amounted to a loss of A$7.4 million, compared with a loss of A$444,380 in the year-earlier period.

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

Total revenue grew 39.7% on an annual basis to A$12.0 million from A$8.6 million, and total operating expenses climbed year over year to A$23.7 million from A$9.3 million.

Reported net income came to a loss of A$10.8 million, or a loss of 1 cents per share, compared to a loss of A$663,170, or a loss of 0 cents per share, in the prior-year period.