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Clean Seas Seafood fiscal H1 loss narrows YOY

Clean Seas Seafood Ltd said its normalized net income for the fiscal first half ended Dec. 31, 2014, was a loss of A$444,380, compared with a loss of A$1.2 million in the prior-year period.

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

Total revenue climbed year over year to A$8.6 million from A$3.8 million, and total operating expenses grew 59.0% from the prior-year period to A$9.3 million from A$5.9 million.

Reported net income fell 14.0% year over year to A$3.4 million, or 0 cents per share, from A$4.0 million, or 0 cents per share.