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TT International fiscal Q3 loss widens 26.9% YOY

TT International Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to a loss of S$5.6 million, compared with a loss of S$4.4 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 negative 8.9% from negative 5.8% in the year-earlier period.

Total revenue fell 17.6% year over year to S$62.4 million from S$75.8 million, and total operating expenses decreased 13.4% year over year to S$65.3 million from S$75.4 million.

Reported net income came to a loss of S$10.5 million, or a loss of 1 cents per share, compared to a loss of S$7.1 million, or a loss of 1 cents per share, in the year-earlier period.

As of Feb. 13, US$1 was equivalent to S$1.35.