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Obtala Resources full-year loss narrows YOY

Obtala Ltd. said its full-year normalized net income amounted to a loss of $2.5 million, compared with a loss of $21.4 million in the year-earlier period.

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

Total revenue fell 27.4% on an annual basis to $630,000 from $868,000, and total operating expenses fell 81.3% from the prior-year period to $5.4 million from $28.7 million.

Reported net income totaled a loss of $4.5 million, or a loss of 2 cents per share, compared to a loss of $19.7 million, or a loss of 7 cents per share, in the prior-year period.