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Luxey International fiscal Q1 loss narrows YOY

Luxey International (Holdings) Ltd. said its normalized net income for the fiscal first quarter ended Sept. 30 amounted to HK$27,000, compared with a loss of HK$3.0 million in the year-earlier period.

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

The normalized profit margin climbed to negative 0.1% from negative 21.7% in the year-earlier period.

Total revenue rose 57.4% year over year to HK$21.7 million from HK$13.8 million, and total operating expenses increased 48.4% from the prior-year period to HK$24.5 million from HK$16.5 million.

Reported net income totaled a loss of HK$2.2 million, or a loss of 0 cents per share, compared to a loss of HK$8.2 million, or a loss of 0 cents per share, in the year-earlier period.