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Ossia International fiscal Q3 loss narrows YOY

Ossia International Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was a loss of S$134,130, compared with a loss of S$234,750 in the prior-year period.

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

The normalized profit margin increased to negative 1.1% from negative 1.5% in the year-earlier period.

Total revenue fell 22.4% year over year to S$12.3 million from S$15.8 million, and total operating expenses declined 23.2% from the prior-year period to S$12.2 million from S$15.9 million.

Reported net income came to a loss of S$640,000, or a loss of 0 cents per share, compared to a loss of S$523,000, or a loss of 0 cents per share, in the prior-year period.

As of Feb. 13, US$1 was equivalent to S$1.35.