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Netel Technology fiscal Q2 loss widens 28.7% YOY

Netel Technology (Holdings) Ltd. said its normalized net income for the fiscal second quarter ended Nov. 30, 2015, came to a loss of HK$3.7 million, compared with a loss of HK$2.8 million in the year-earlier period.

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

Total revenue climbed 38.1% year over year to HK$711,000 from HK$515,000, and total operating expenses increased 30.9% year over year to HK$6.6 million from HK$5.0 million.

Reported net income came to a loss of HK$5.9 million, or a loss of 1 cents per share, compared to a loss of HK$4.6 million, or a loss of 1 cents per share, in the prior-year period.