Bagir Group Ltd. said its first-half normalized net income came to a loss of 3 cents per share, compared with a loss of 4 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $1.3 million, compared with a loss of $2.0 million in the prior-year period.

Total revenue decreased 26.3% on an annual basis to $33.5 million from $45.5 million, and total operating expenses fell 28.1% from the prior-year period to $34.0 million from $47.4 million.

Reported net income totaled a loss of $1.6 million, or a loss of 3 cents per share, compared to a loss of $3.1 million, or a loss of 6 cents per share, in the prior-year period.