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Sunmoon Food Q2 loss narrows YOY

Sunmoon Food Co. Ltd. said its normalized net income for the second quarter came to a loss of S$318,750, compared with a loss of S$335,000 in the prior-year period.

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

The normalized profit margin rose to negative 7.3% from negative 8.1% in the year-earlier period.

Total revenue increased 5.2% year over year to S$4.3 million from S$4.1 million, and total operating expenses rose 6.5% from the prior-year period to S$5.0 million from S$4.7 million.

Reported net income totaled a loss of S$509,740, or a loss of 0 cents per share, compared to a loss of S$535,880, or a loss of 0 cents per share, in the year-earlier period.

As of Aug. 11, US$1 was equivalent to S$1.34.