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Neptune Technologies fiscal Q2 loss narrows YOY

Neptune Technologies & Bioressources Inc. said its normalized net income for the fiscal second quarter ended Aug. 31 was a loss of 2 Canadian cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 6 cents per share.

The per-share loss decreased 81.5% year over year from 9 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of C$1.3 million, compared with a loss of C$7.0 million in the prior-year period.

The normalized profit margin climbed to negative 29.8% from negative 266.4% in the year-earlier period.

Total revenue rose 66.9% on an annual basis to C$4.4 million from C$2.6 million, and total operating expenses fell 49.8% year over year to C$8.4 million from C$16.8 million.

Reported net income came to a loss of C$1.9 million, or a loss of 2 cents per share, compared to a loss of C$12.7 million, or a loss of 17 cents per share, in the prior-year period.