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HMV Digital China fiscal Q2 loss narrows YOY

China Creative Digital Entertainment Ltd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2015, was a loss of HK$1.1 million, compared with a loss of HK$5.6 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 rose to negative 2.1% from negative 18.5% in the year-earlier period.

Total revenue rose 78.5% year over year to HK$54.5 million from HK$30.5 million, and total operating expenses grew 39.9% year over year to HK$55.0 million from HK$39.3 million.

Reported net income totaled a loss of HK$1.4 million, or a loss of 0 cents per share, compared to a loss of HK$8.9 million, or a loss of 1 cents per share, in the prior-year period.