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Ominto fiscal Q1 loss widens 44.1% YOY

Ominto Inc. said its normalized net income for the fiscal first quarter ended Dec. 31, 2015, came to a loss of 11 cents per share, compared with a loss of 10 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $1.3 million, compared with a loss of $870,500 in the prior-year period.

The normalized profit margin fell to negative 23.1% from negative 18.3% in the year-earlier period.

Total revenue rose 14.5% on an annual basis to $5.4 million from $4.7 million, and total operating expenses grew 40.1% year over year to $7.5 million from $5.4 million.

Reported net income totaled a loss of $2.0 million, or a loss of 17 cents per share, compared to a loss of $1.4 million, or a loss of 16 cents per share, in the prior-year period.