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Sage International Q3 loss widens 66.5% YOY

Sage International Group Ltd. said its normalized net income for the third quarter came to a loss of HK$2.6 million, compared with a loss of HK$1.5 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 declined to negative 98.7% from negative 43.2% in the year-earlier period.

Total revenue decreased 6.9% on an annual basis to HK$3.3 million from HK$3.6 million, and total operating expenses rose 22.5% on an annual basis to HK$7.4 million from HK$6.1 million.

Reported net income came to a loss of HK$4.1 million, or a loss of 0 cents per share, compared to a loss of HK$2.5 million, or a loss of 0 cents per share, in the prior-year period.