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Second Cup fiscal Q2 loss widens YOY

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.