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Castle Brands fiscal Q2 loss narrows YOY

Castle Brands Inc. said its normalized net income for the fiscal second quarter ended Sept. 30 came to a loss of $393,020, compared with a loss of $591,990 in the prior-year period.

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

The normalized profit margin rose to negative 2.4% from negative 5.0% in the year-earlier period.

Total revenue increased 40.7% on an annual basis to $16.6 million from $11.8 million, and total operating expenses climbed 35.8% year over year to $16.4 million from $12.1 million.

Reported net income totaled a loss of $1.0 million, or a loss of 1 cents per share, compared to a loss of $1.1 million, or a loss of 1 cents per share, in the year-earlier period.