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Solarvest BioEnergy fiscal Q4 loss widens YOY

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Solarvest BioEnergy fiscal Q4 loss widens YOY

Solarvest BioEnergy Inc. said its normalized net income for the fiscal fourth quarter ended July 31 was a loss of 1 Canadian cents per share, compared with a loss of 1 cents 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 C$246,640, compared with a loss of C$238,800 in the year-earlier period.

Reported net income came to a loss of C$394,620, or a loss of 2 cents per share, compared to a loss of C$415,600, or a loss of 2 cents per share, in the prior-year period.

For the year, the company's normalized net income totaled a loss of 5 cents per share, compared with a loss of 4 cents per share in the prior year.

Normalized net income was a loss of C$927,370, compared with a loss of C$594,480 in the prior year.

The company said reported net income came to a loss of C$1.5 million, or a loss of 8 cents per share, in the full year, compared with a loss of C$984,700, or a loss of 6 cents per share, the prior year.