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Cloud Nine Education fiscal Q2 loss widens 29.6% YOY

Cloud Nine Education Group Ltd. said its normalized net income for the fiscal second quarter ended March 31 came to a loss of C$125,400, compared with a loss of C$96,750 in the year-earlier period.

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

The normalized profit margin declined to negative 58.1% from negative 21.9% in the year-earlier period.

Total revenue declined 51.2% on an annual basis to C$215,760 from C$442,030, and total operating expenses fell 31.7% from the prior-year period to C$407,780 from C$596,840.

Reported net income totaled a loss of C$200,640, or a loss of 1 cents per share, compared to a loss of C$154,810, or a loss of 2 cents per share, in the year-earlier period.