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G-Vision International fiscal H2 loss narrows YOY

G-Vision International (Holdings) Ltd. said its normalized net income for the fiscal second half ended March 31 amounted to a loss of HK$1.8 million, compared with a loss of HK$2.3 million in the year-earlier period.

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

Total revenue increased 5.1% on an annual basis to HK$51.0 million from HK$48.5 million, and total operating expenses climbed year over year to HK$53.9 million from HK$52.3 million.

Reported net income totaled a loss of HK$2.9 million, or a loss of 0 cents per share, compared to a loss of HK$3.8 million, or a loss of 0 cents per share, in the prior-year period.

For the year, the company's normalized net income totaled HK$2.9 million, compared with a loss of HK$-4.8 million in the prior year.

Full-year total revenue increased 6.7% from the prior-year period to HK$97.8 million from HK$91.6 million, and total operating expenses grew on an annual basis to HK$102.5 million from HK$99.3 million.

The company said reported net income came to a loss of HK$4.7 million, or a loss of 0 cents per share, in the full year, compared with a loss of HK$7.7 million, or a loss of 0 cents per share, the prior year.