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Celebrate International fiscal Q1 loss widens YOY

Celebrate International Holdings Ltd. said its normalized net income for the fiscal first quarter ended Sept. 30 was a loss of HK$3.65 per share, compared with a loss of HK$11.37 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$4.5 million, compared with a loss of HK$4.4 million in the year-earlier period.

The normalized profit margin rose to negative 84.2% from negative 144.1% in the year-earlier period.

Total revenue fell 66.4% year over year to HK$1.0 million from HK$3.0 million, and total operating expenses declined on an annual basis to HK$6.2 million from HK$6.3 million.

Reported net income totaled HK$2.8 million, or HK$2.32 per share, compared to a loss of HK$7.1 million, or a loss of HK$18.56 per share, in the year-earlier period.