International Housewares Retail Co. Ltd. said its normalized net income for the fiscal first half ended Oct. 31, 2014, amounted to 5 Hong Kong cents per share, compared with the S&P Capital IQ consensus estimate of 5 cents per share.
EPS decreased 50.7% year over year from 10 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was HK$34.6 million, a decline of 38.2% from HK$56.0 million in the year-earlier period.
Total revenue climbed 14.6% year over year to HK$901.3 million from HK$786.3 million, and total operating expenses climbed 22.0% on an annual basis to HK$851.4 million from HK$697.8 million.
Reported net income fell 43.3% from the prior-year period to HK$44.8 million, or 6 cents per share, from HK$79.0 million, or 14 cents per share.
