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Neptune Technologies fiscal Q4 loss widens 11.6% YOY

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Neptune Technologies fiscal Q4 loss widens 11.6% YOY

Neptune Technologies & Bioressources Inc. said its normalized net income for the fiscal fourth quarter ended Feb. 28 was a loss of 8 Canadian cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 1 cents per share.

The per-share loss decreased 8.7% year over year from 9 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of C$6.3 million, compared with a loss of C$5.7 million in the year-earlier period.

The normalized profit margin rose to negative 133.9% from negative 158.3% in the year-earlier period.

Total revenue grew 12.0% year over year to C$4.0 million from C$3.6 million, and total operating expenses increased 13.3% from the prior-year period to C$17.1 million from C$15.1 million.

Reported net income totaled a loss of C$9.2 million, or a loss of 12 cents per share, compared to income of C$192,400, or 0 cents per share, in the year-earlier period.

For the year, the company's normalized net income totaled a loss of 23 cents per share, compared with the S&P Capital IQ consensus normalized EPS estimate of a loss of 14 cents.

EPS was a loss of 30 cents in the prior year.

Normalized net income was a loss of C$17.5 million, compared with a loss of C$18.1 million in the prior year.

Full-year total revenue fell 22.7% year over year to C$15.1 million from C$19.5 million, and total operating expenses decreased on an annual basis to C$56.0 million from C$57.1 million.

The company said reported net income came to a loss of C$28.0 million, or a loss of 38 cents per share, in the full year, compared with a loss of C$16.6 million, or a loss of 27 cents per share, the prior year.