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Destiny Media Technologies fiscal Q2 loss narrows YOY

Destiny Media Technologies Inc. said its normalized net income for the fiscal second quarter ended Feb. 29 was a loss of $47,110, compared with a loss of $227,790 in the year-earlier period.

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

The normalized profit margin increased to negative 6.2% from negative 30.6% in the year-earlier period.

Total revenue increased on an annual basis to $763,900 from $743,190, and total operating expenses fell 24.5% on an annual basis to $845,310 from $1.1 million.

Reported net income totaled a loss of $75,380, or a loss of 0 cents per share, compared to a loss of $529,940, or a loss of 1 cents per share, in the year-earlier period.