Informatics Education Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to a loss of S$1.1 million, compared with a loss of S$258,750 in the prior-year period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
The normalized profit margin dropped to negative 34.1% from negative 4.7% in the year-earlier period.
Total revenue decreased 39.7% on an annual basis to S$3.4 million from S$5.6 million, and total operating expenses fell 11.4% on an annual basis to S$5.4 million from S$6.1 million.
Reported net income totaled a loss of S$1.9 million, or a loss of 3 cents per share, compared to a loss of S$433,310, or a loss of 1 cents per share, in the prior-year period.
As of Feb. 12, US$1 was equivalent to S$1.36.
