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Boulevard Holdings fiscal Q2 loss narrows YOY

Boulevard Holdings Inc. said its normalized net income for the fiscal second quarter ended Nov. 30, 2015, came to a loss of 2.0 million pesos, compared with a loss of 5.1 million pesos in the prior-year period.

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

The normalized profit margin climbed to negative 11.8% from negative 23.2% in the year-earlier period.

Total revenue decreased 24.9% year over year to 16.6 million pesos from 22.2 million pesos, and total operating expenses fell 31.0% on an annual basis to 21.4 million pesos from 31.1 million pesos.

Reported net income came to a loss of 3.7 million pesos, or a loss of 0 centavos per share, compared to a loss of 8.4 million pesos, or a loss of 0 centavos per share, in the year-earlier period.

As of Jan. 19, US$1 was equivalent to 47.63 Philippine pesos.