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Celebrate International fiscal Q2 loss narrows YOY

Celebrate International Holdings Ltd said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, came to a loss of 79 Hong Kong cents per share, compared with a loss of HK$12.12 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of HK$3.4 million, compared with a loss of HK$4.6 million in the prior-year period.

The normalized profit margin was 209.3%.

Total revenue increased 13.3% year over year to HK$1.6 million from HK$1.4 million, and total operating expenses climbed 38.5% on an annual basis to HK$6.9 million from HK$5.0 million.

Reported net income totaled a loss of HK$7.9 million, or a loss of HK$1.80 per share, compared to a loss of HK$1.9 million, or a loss of HK$4.85 per share, in the prior-year period.