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Inno-Tech Holdings fiscal Q3 loss narrows YOY

Inno-Tech Holdings Ltd. said its normalized net income for the fiscal third quarter ended March 31 amounted to a loss of HK$158,750, compared with a loss of HK$10.3 million 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 1.5% from negative 101.3% in the year-earlier period.

Total revenue grew 6.2% on an annual basis to HK$10.8 million from HK$10.2 million, and total operating expenses decreased 56.3% from the prior-year period to HK$11.1 million from HK$25.4 million.

Reported net income totaled a loss of HK$233,000, or a loss of 0 cents per share, compared to a loss of HK$14.5 million, or a loss of 9 cents per share, in the prior-year period.