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Duo World fiscal Q3 loss narrows YOY

Duo World Inc. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, came to a loss of $37,210, compared with a loss of $108,940 in the year-earlier period.

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

The normalized profit margin climbed to negative 10.6% from negative 30.4% in the year-earlier period.

Total revenue fell on an annual basis to $351,180 from $358,150, and total operating expenses decreased 23.2% year over year to $416,160 from $541,810.

Reported net income came to a loss of $60,070, or a loss of 0 cents per share, compared to a loss of $175,590, or a loss of 0 cents per share, in the prior-year period.