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L&A International swings to loss in fiscal Q3

L&A International Holdings Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to a loss of HK$4.1 million, compared with income of HK$4.6 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 declined to negative 4.9% from 4.4% in the year-earlier period.

Total revenue declined 19.4% on an annual basis to HK$84.5 million from HK$104.9 million, and total operating expenses declined 7.8% on an annual basis to HK$90.0 million from HK$97.7 million.

Reported net income totaled a loss of HK$6.0 million, or a loss of 1 cents per share, compared to income of HK$4.7 million, or 1 cents per share, in the prior-year period.