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Luxey International fiscal Q2 loss narrows YOY

Luxey International (Holdings) Ltd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2015, amounted to a loss of HK$350,750, compared with a loss of HK$3.6 million in the year-earlier period.

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

The normalized profit margin increased to negative 1.0% from negative 11.8% in the year-earlier period.

Total revenue rose 17.5% on an annual basis to HK$35.8 million from HK$30.4 million, and total operating expenses climbed 24.2% from the prior-year period to HK$38.3 million from HK$30.9 million.

Reported net income came to a loss of HK$1.7 million, or a loss of 0 cents per share, compared to a loss of HK$9.8 million, or a loss of 0 cents per share, in the prior-year period.