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Neptune Technologies fiscal Q1 loss narrows YOY

Neptune Technologies & Bioressources Inc. said its normalized net income for the fiscal first quarter ended May 31 came to a loss of 3 Canadian cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 6 cents per share.

The per-share loss decreased 36.1% year over year from 5 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of C$2.6 million, compared with a loss of C$3.9 million in the prior-year period.

The normalized profit margin climbed to negative 95.1% from negative 106.0% in the year-earlier period.

Total revenue declined 26.7% year over year to C$2.7 million from C$3.7 million, and total operating expenses fell 33.5% year over year to C$8.9 million from C$13.4 million.

Reported net income came to a loss of C$4.4 million, or a loss of 6 cents per share, compared to a loss of C$4.7 million, or a loss of 6 cents per share, in the prior-year period.