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Sino Vision Worldwide fiscal Q2 loss widens 41.2% YOY

Sino Vision Worldwide Holdings Ltd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2015, amounted to a loss of 3 Hong Kong cents per share, compared with a loss of 2 cents 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$18.8 million, compared with a loss of HK$13.3 million in the prior-year period.

The normalized profit margin fell to negative 16.2% from negative 5.9% in the year-earlier period.

Total revenue fell 48.4% year over year to HK$115.8 million from HK$224.5 million, and total operating expenses declined 39.9% on an annual basis to HK$147.4 million from HK$245.4 million.

Reported net income totaled a loss of HK$30.4 million, or a loss of 5 cents per share, compared to a loss of HK$21.8 million, or a loss of 4 cents per share, in the year-earlier period.