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Cavitation Technologies fiscal Q3 loss widens YOY

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Cavitation Technologies fiscal Q3 loss widens YOY

Cavitation Technologies Inc. said its normalized net income for the fiscal third quarter ended March 31 amounted to a loss of $137,430, compared with a loss of $33,110 in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin dropped to negative 161.7% from negative 9.9% in the year-earlier period.

Total revenue decreased 74.5% on an annual basis to $85,000 from $333,660, and total operating expenses decreased 21.1% from the prior-year period to $304,890 from $386,630.

Reported net income came to a loss of $219,890, or a loss of 0 cents per share, compared to a loss of $52,970, or a loss of 0 cents per share, in the year-earlier period.