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Castle Brands fiscal Q1 loss widens YOY

Castle Brands Inc. said its normalized net income for the fiscal first quarter ended June 30 was a loss of $947,540, compared with a loss of $925,810 in the prior-year period.

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

The normalized profit margin increased to negative 9.0% from negative 10.3% in the year-earlier period.

Total revenue increased 16.7% on an annual basis to $10.5 million from $9.0 million, and total operating expenses increased 16.6% year over year to $11.0 million from $9.5 million.

Reported net income came to a loss of $1.5 million, or a loss of 1 cents per share, compared to a loss of $1.5 million, or a loss of 1 cents per share, in the prior-year period.