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China Netcom Technology Q2 loss narrows YOY

China Netcom Technology Holdings Ltd said its second-quarter normalized net income was a loss of HK$7.3 million, compared with a loss of HK$10.7 million in the year-earlier period.

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

Total revenue fell 50.2% on an annual basis to HK$122,000 from HK$245,000, and total operating expenses declined 12.2% from the prior-year period to HK$12.4 million from HK$14.2 million.

Reported net income came to a loss of HK$10.8 million, or a loss of 0 cents per share, compared to a loss of HK$16.4 million, or a loss of 1 cents per share, in the prior-year period.