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Ricebran Technologies Q2 loss widens 95.7% YOY

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Ricebran Technologies Q2 loss widens 95.7% YOY

Ricebran Technologies said its second-quarter normalized net income amounted to a loss of 18 cents per share, compared with a loss of 9 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $1.7 million, compared with a loss of $855,500 in the prior-year period.

The normalized profit margin declined to negative 96.5% from negative 7.5% in the year-earlier period.

Total revenue declined 7.5% on an annual basis to $10.5 million from $11.4 million, and total operating expenses climbed year over year to $13.2 million from $13.0 million.

Reported net income totaled a loss of $6.6 million, or a loss of 72 cents per share, compared to a loss of $3.5 million, or a loss of 38 cents per share, in the year-earlier period.