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Neptune Technologies fiscal Q3 loss narrows YOY

Neptune Technologies & Bioressources Inc. said its normalized net income for the fiscal third quarter ended Nov. 30, 2014, was a loss of 2 Canadian cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 16 cents per share.

The per-share loss narrowed 76.7% year over year from 8 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of C$1.4 million, compared with a loss of C$4.8 million in the year-earlier period.

The normalized profit margin climbed to negative 28.7% from negative 106.6% in the year-earlier period.

Total revenue increased 6.0% on an annual basis to C$4.7 million from C$4.5 million, and total operating expenses decreased 26.0% year over year to C$10.6 million from C$14.3 million.

Reported net income totaled a loss of C$1.3 million, or a loss of 2 cents per share, compared to a loss of C$8.8 million, or a loss of 14 cents per share, in the year-earlier period.