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Asiatravel.com fiscal Q1 loss widens 18.9% YOY

Asiatravel.com Holdings Ltd. said its normalized net income for the fiscal first quarter ended Dec. 31, 2014, was a loss of S$895,880, compared with a loss of S$753,250 in the year-earlier period.

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

The normalized profit margin declined to negative 3.8% from negative 2.9% in the year-earlier period.

Total revenue decreased 9.6% on an annual basis to S$23.5 million from S$26.0 million, and total operating expenses decreased 7.6% on an annual basis to S$25.2 million from S$27.3 million.

Reported net income came to a loss of S$1.6 million, or a loss of 1 cents per share, compared to a loss of S$1.3 million, or a loss of 0 cents per share, in the prior-year period.

As of Feb. 13, US$1 was equivalent to S$1.35.