HL Global Enterprises Ltd said its normalized net income for the second quarter amounted to a loss of S$185,000, compared with a loss of S$658,750 in the prior-year period.

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

The normalized profit margin increased to negative 5.8% from negative 20.3% in the year-earlier period.

Total revenue declined year over year to S$3.2 million from S$3.2 million, and total operating expenses rose year over year to S$3.0 million from S$2.9 million.

Reported net income came to a loss of S$404,000, or a loss of 0 cents per share, compared to a loss of S$1.2 million, or a loss of 1 cents per share, in the prior-year period.

As of Aug. 4, US$1 was equivalent to S$1.34.