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Schaffer Corp. fiscal H1 profit falls YOY

Schaffer Corp. Ltd. said its normalized net income for the fiscal first half ended Dec. 31, 2014, was 9 Australian cents per share, a decline of 79.4% from 46 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$1.3 million, a decline of 79.4% from A$6.4 million in the year-earlier period.

Total revenue declined 12.1% year over year to A$75.7 million from A$86.1 million, and total operating expenses decreased year over year to A$70.2 million from A$73.2 million.

Reported net income decreased 57.5% year over year to A$2.1 million, or 15 cents per share, from A$4.9 million, or 35 cents per share.