Pure Cycle Corporation announced earnings results for the first quarter ended November 30, 2015. The company reported a wider loss in its first quarter as revenue decreased. Net loss expanded to $0.1 million, or a loss of less than $0.01 per diluted share from a net loss of $0.01 million, or a loss of less than $0.01 per diluted share in the year-earlier period.

Revenue dropped to $0.3 million from $0.8 million year-over-year. Revenues decreased approximately 59% during the first quarter of fiscal 2016, attributable to a decrease in frack water sales. Loss from operations was $440,600 compared to $72,300 a year ago.