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China Auto Logistics Q2 loss widens 13.8% YOY

China Auto Logistics Inc. said its second-quarter normalized net income was a loss of 37 cents per share, compared with a loss of 32 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $1.5 million, compared with a loss of $1.3 million in the year-earlier period.

The normalized profit margin increased to negative 0.3% from negative 1.1% in the year-earlier period.

Total revenue declined 17.6% on an annual basis to $93.7 million from $113.7 million, and total operating expenses decreased 17.5% on an annual basis to $94.0 million from $114.0 million.

Reported net income totaled a loss of $2.2 million, or a loss of 56 cents per share, compared to a loss of $1.8 million, or a loss of 46 cents per share, in the year-earlier period.