Arcadia Biosciences Inc. said its second-quarter normalized net income came to a loss of $1.28 per share, compared with the S&P Capital IQ consensus estimate of a loss of $1.40 per share.
The per-share loss decreased 39.5% year over year from $2.12.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $2.8 million, compared with a loss of $2.5 million in the year-earlier period.
Total revenue fell 49.6% year over year to $721,000 from $1.4 million, and total operating expenses totaled $5.0 million, compared with $5.0 million in the prior-year period.
Reported net income came to a loss of $4.6 million, or a loss of $2.05 per share, compared to a loss of $4.6 million, or a loss of $3.83 per share, in the prior-year period.