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Celebrate International fiscal Q3 loss narrows YOY

Celebrate International Holdings Ltd said its normalized net income for the fiscal third quarter ended March 31 amounted to a loss of 91 Hong Kong cents per share, compared with a loss of HK$18.68 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$4.9 million, compared with a loss of HK$8.2 million in the prior-year period.

The normalized profit margin was 54.6%.

Total revenue decreased 8.7% on an annual basis to HK$1.2 million from HK$1.4 million, and total operating expenses declined 12.5% from the prior-year period to HK$9.1 million from HK$10.4 million.

Reported net income totaled a loss of HK$7.7 million, or a loss of HK$1.44 per share, compared to a loss of HK$20.2 million, or a loss of HK$46.31 per share, in the year-earlier period.