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Westell Technologies fiscal Q3 loss narrows YOY

Westell Technologies Inc. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, amounted to a loss of 20 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 16 cents per share.

The per-share loss narrowed 33.1% year over year from 29 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $3.0 million, compared with a loss of $4.4 million in the prior-year period.

The normalized profit margin rose to negative 14.8% from negative 31.4% in the year-earlier period.

Total revenue increased 44.0% year over year to $20.2 million from $14.0 million, and total operating expenses grew 19.0% from the prior-year period to $25.1 million from $21.1 million.

Reported net income came to a loss of $4.9 million, or a loss of 32 cents per share, compared to a loss of $27.6 million, or a loss of $1.84 per share, in the year-earlier period.