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Sprintex fiscal H1 loss widens 24.8% YOY

Sprintex Ltd. said its normalized net income for the fiscal first half ended Dec. 31, 2014, came to a loss of 8 Australian cents per share, compared with a loss of 10 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of A$1.9 million, compared with a loss of A$1.5 million in the year-earlier period.

Total revenue declined 55.1% on an annual basis to A$291,860 from A$650,440, and total operating expenses rose 9.9% from the prior-year period to A$3.0 million from A$2.7 million.

Reported net income totaled a loss of A$5.1 million, or a loss of 22 cents per share, compared to a loss of A$2.3 million, or a loss of 14 cents per share, in the year-earlier period.