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Acorn International Q2 loss narrows YOY

Acorn International Inc. said its second-quarter normalized net income came to $2.1 million, compared with a loss of $8.3 million in the prior-year period.

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

The normalized profit margin climbed to negative 54.7% from negative 101.8% in the year-earlier period.

Total revenue declined 52.6% year over year to $3.9 million from $8.1 million, and total operating expenses decreased 65.5% year over year to $7.6 million from $21.9 million.

Reported net income came to $5.7 million, compared with a loss of $13.2 million in the prior-year period.