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Agriterra fiscal H1 loss narrows YOY

Agriterra Ltd said its normalized net income for the fiscal first half ended Nov. 30, 2015, was a loss of 18 cents per share, compared with a loss of 28 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 $2.0 million, compared with a loss of $2.9 million in the prior-year period.

Total revenue increased 93.2% year over year to $9.5 million from $4.9 million, and total operating expenses climbed 33.1% from the prior-year period to $12.3 million from $9.3 million.

Reported net income totaled a loss of $2.8 million, or a loss of 26 cents per share, compared to a loss of $4.5 million, or a loss of 43 cents per share, in the prior-year period.