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Thiz Technology fiscal Q3 loss narrows YOY

Thiz Technology Group Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, amounted to a loss of HK$858,880, compared with a loss of HK$1.2 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 was 197.0%.

Total revenue climbed 55.7% year over year to HK$436,000 from HK$280,000, and total operating expenses decreased 25.1% on an annual basis to HK$1.6 million from HK$2.1 million.

Reported net income totaled a loss of HK$1.4 million, or a loss of 1 cents per share, compared to a loss of HK$2.0 million, or a loss of 1 cents per share, in the prior-year period.