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Visualant swings to loss in fiscal Q2

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Visualant swings to loss in fiscal Q2

Know Labs, Inc. said its normalized net income for the fiscal second quarter ended March 31 amounted to a loss of 15 cents per share, compared with $1.24 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $184,180, compared with income of $1.4 million in the year-earlier period.

The normalized profit margin fell to negative 12.6% from 97.5% in the year-earlier period.

Total revenue climbed on an annual basis to $1.5 million from $1.4 million, and total operating expenses totaled $2.2 million, compared with $2.2 million in the prior-year period.

Reported net income totaled a loss of $294,690, or a loss of 24 cents per share, compared to income of $2.2 million, or $1.99 per share, in the year-earlier period.