IDT International Ltd said its normalized net income for the fiscal first half ended Sept. 30 came to a loss of HK$3.6 million, compared with a loss of HK$13.5 million in the year-earlier period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
Total revenue fell 16.8% year over year to HK$603.1 million from HK$724.5 million, and total operating expenses fell 18.0% on an annual basis to HK$612.8 million from HK$747.3 million.
Reported net income came to a loss of HK$6.8 million, or a loss of 0 cents per share, compared to a loss of HK$8.8 million, or a loss of 0 cents per share, in the prior-year period.
