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E Lighting Group swings to loss in fiscal Q4

E Lighting Group Holdings Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to a loss of HK$2.7 million, compared with income of HK$1.1 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 fell to negative 13.4% from 5.8% in the year-earlier period.

Total revenue climbed 5.7% year over year to HK$20.4 million from HK$19.3 million, and total operating expenses rose 42.0% year over year to HK$24.8 million from HK$17.5 million.

Reported net income came to a loss of HK$4.8 million, or a loss of 1 cents per share, compared to income of HK$834,000, or 0 cents per share, in the prior-year period.

For the year, the company's normalized net income totaled HK$2.6 million, compared with income of HK$6.4 million in the prior year.

Full-year total revenue grew on an annual basis to HK$80.4 million from HK$79.2 million, and total operating expenses rose 23.0% on an annual basis to HK$84.7 million from HK$68.9 million.

The company said reported net income totaled a loss of HK$12.7 million, or a loss of 4 cents per share, in the full year, compared with income of HK$5.9 million, or 2 cents per share, the prior year.