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Media Chinese International fiscal Q3 profit falls YOY

Media Chinese International Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, came to $6.4 million, a fall of 30.0% from $9.2 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 dropped to 7.9% from 8.7% in the year-earlier period.

Total revenue decreased 23.1% year over year to $80.9 million from $105.2 million, and total operating expenses fell 21.5% year over year to $69.2 million from $88.2 million.

Reported net income decreased 29.9% from the prior-year period to $7.4 million, or 0 cents per share, from $10.6 million, or 1 cents per share.