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KLE Group Q2 loss widens 55.7% YOY

KLE Group Ltd. said its normalized net income for the second quarter amounted to a loss of 8 Jamaican cents per share, compared with a loss of 5 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of J$8.0 million, compared with a loss of J$5.2 million in the year-earlier period.

The normalized profit margin declined to negative 15.5% from negative 9.6% in the year-earlier period.

Total revenue declined year over year to J$51.9 million from J$53.7 million, and total operating expenses climbed from the prior-year period to J$57.3 million from J$55.6 million.

Reported net income came to a loss of J$12.9 million, or a loss of 13 cents per share, compared to a loss of J$8.3 million, or a loss of 8 cents per share, in the year-earlier period.

As of Aug. 19, US$1 was equivalent to J$117.22.