Silver Heritage Group Ltd said its first-half normalized net income amounted to a loss of 3 cents per share, compared with a loss of 3 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $972,500, compared with a loss of $845,630 in the prior-year period.

Total revenue fell on an annual basis to $7.5 million from $7.8 million, and total operating expenses rose 6.3% from the prior-year period to $8.1 million from $7.6 million.

Reported net income totaled a loss of $1.6 million, or a loss of 5 cents per share, compared to a loss of $1.9 million, or a loss of 6 cents per share, in the year-earlier period.