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PureCircle swings to profit in fiscal H1

PureCircle Ltd. said its normalized net income for the fiscal first half ended Dec. 31, 2015, came to 2 cents per share, compared with a loss of 2 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $3.4 million, compared with a loss of $2.7 million in the prior-year period.

Total revenue rose 26.1% year over year to $54.5 million from $43.2 million, and total operating expenses climbed 17.9% year over year to $50.0 million from $42.4 million.

Reported net income totaled $5.0 million, or 3 cents per share, compared to a loss of $899,000, or a loss of 1 cents per share, in the prior-year period.