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GlobalTel IP fiscal Q2 loss narrows YOY

Cleartronic Inc. said its normalized net income for the fiscal second quarter ended March 31 came to a loss of $34,440, compared with a loss of $57,180 in the prior-year period.

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

The normalized profit margin climbed to negative 18.3% from negative 182.4% in the year-earlier period.

Total revenue climbed year over year to $188,400 from $31,350, and total operating expenses rose year over year to $232,450 from $98,550.

Reported net income came to a loss of $55,110, or a loss of 0 cents per share, compared to a loss of $581,250, or a loss of 0 cents per share, in the year-earlier period.