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TT International fiscal Q3 loss widens 56.6% YOY

TT International Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, amounted to a loss of S$8.7 million, compared with a loss of S$5.6 million in the prior-year period.

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

The normalized profit margin rose to 0.7% from negative 8.9% in the year-earlier period.

Total revenue grew 73.6% year over year to S$108.3 million from S$62.4 million, and total operating expenses climbed 80.5% from the prior-year period to S$117.8 million from S$65.3 million.

Reported net income came to a loss of S$16.2 million, or a loss of 2 cents per share, compared to a loss of S$10.5 million, or a loss of 1 cents per share, in the prior-year period.

As of Feb. 12, US$1 was equivalent to S$1.40.