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Sportscene fiscal Q1 profit falls YOY

Sportscene Group Inc. said its normalized net income for the fiscal first quarter ended Nov. 30, 2014, came to C$35,000, a decrease of 94.6% from C$645,500 in the year-earlier period.

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

The normalized profit margin declined to 0.2% from 3.7% in the year-earlier period.

Total revenue decreased on an annual basis to C$17.3 million from C$17.5 million, and total operating expenses increased year over year to C$17.1 million from C$16.5 million.

Reported net income decreased 94.7% year over year to C$42,210, or 1 cents per share, from C$803,890, or 19 cents per share.