Sage International Group Ltd. said its first-quarter normalized net income amounted to a loss of HK$3.1 million, compared with a loss of HK$4.8 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 101.8% from negative 140.9% in the year-earlier period.

Total revenue decreased year over year to HK$3.3 million from HK$3.4 million, and total operating expenses declined 10.4% on an annual basis to HK$7.3 million from HK$8.2 million.

Reported net income came to a loss of HK$4.7 million, or a loss of 1 cents per share, compared to a loss of HK$7.2 million, or a loss of 3 cents per share, in the prior-year period.