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Luxey International fiscal Q2 loss widens YOY

Luxey International (Holdings) Ltd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, amounted to a loss of HK$3.6 million, compared with a loss of HK$933,130 in the prior-year period.

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

The normalized profit margin fell to negative 11.8% from negative 4.6% in the year-earlier period.

Total revenue rose 49.1% year over year to HK$30.4 million from HK$20.4 million, and total operating expenses increased 36.9% from the prior-year period to HK$30.9 million from HK$22.6 million.

Reported net income totaled a loss of HK$9.8 million, or a loss of 0 cents per share, compared to a loss of HK$21.0 million, or a loss of 0 cents per share, in the year-earlier period.