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Agriterra fiscal H1 loss widens 61.5% YOY

Agriterra Ltd said its normalized net income for the fiscal first half ended Nov. 30, 2014, came to a loss of 28 cents per share, compared with a loss of 17 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 $2.9 million, compared with a loss of $1.8 million in the prior-year period.

Total revenue decreased 30.2% on an annual basis to $4.7 million from $6.7 million, and total operating expenses declined 6.5% on an annual basis to $9.0 million from $9.6 million.

Reported net income totaled a loss of $4.5 million, or a loss of 43 cents per share, compared to a loss of $1.5 million, or a loss of 15 cents per share, in the year-earlier period.