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Santa Fe Financial fiscal Q3 loss widens 18.8% YOY

Santa Fe Financial Corp. said its normalized net income for the fiscal third quarter ended March 31 was a loss of 61 cents per share, compared with a loss of 52 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 $763,250, compared with a loss of $642,250 in the prior-year period.

The normalized profit margin fell to negative 5.7% from negative 5.3% in the year-earlier period.

Total revenue climbed 12.0% year over year to $13.5 million from $12.0 million, and total operating expenses grew 14.1% year over year to $13.1 million from $11.5 million.

Reported net income came to a loss of $909,000, or a loss of 73 cents per share, compared to a loss of $444,000, or a loss of 36 cents per share, in the prior-year period.