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Ricebran Technologies Q1 loss widens YOY

Ricebran Technologies said its first-quarter normalized net income was a loss of 18 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 14 cents per share.

The per-share loss decreased 31.5% year over year from 26 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $1.6 million, compared with a loss of $788,130 in the year-earlier period.

The normalized profit margin fell to negative 17.0% from negative 10.3% in the year-earlier period.

Total revenue grew 25.7% year over year to $9.7 million from $7.7 million, and total operating expenses grew 24.7% from the prior-year period to $12.6 million from $10.1 million.

Reported net income came to a loss of $3.0 million, or a loss of 33 cents per share, compared to a loss of $1.9 million, or a loss of 62 cents per share, in the prior-year period.