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Optiva fiscal Q2 loss widens YOY

Optiva Inc. said its normalized net income for the fiscal second quarter ended March 31 amounted to a loss of $2.68 per share, compared with the S&P Capital IQ consensus estimate of a loss of 92 cents per share.

The per-share loss widened year over year from 4 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $5.8 million, compared with a loss of $96,440 in the year-earlier period.

The normalized profit margin dropped to negative 14.6% from negative 0.2% in the year-earlier period.

Total revenue fell 26.0% on an annual basis to $39.8 million from $53.7 million, and total operating expenses totaled $47.4 million, compared with $47.6 million in the prior-year period.

Reported net income came to a loss of $35.7 million, or a loss of $16.50 per share, compared to a loss of $2.2 million, or a loss of $1 per share, in the year-earlier period.