Second Cup Ltd. said its normalized net income for the fiscal second quarter ended June 25 came to a loss of C$277,500, compared with a loss of C$103,750 in the prior-year period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
The normalized profit margin dropped to negative 3.6% from negative 1.1% in the year-earlier period.
Total revenue fell 17.6% year over year to C$7.8 million from C$9.4 million, and total operating expenses decreased 14.5% year over year to C$8.1 million from C$9.5 million.
Reported net income came to a loss of C$441,000, or a loss of 3 cents per share, compared to a loss of C$72,000, or a loss of 1 cents per share, in the prior-year period.