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Sage International Q2 loss widens YOY

Sage International Group Ltd. said its normalized net income for the second quarter was a loss of HK$2.5 million, compared with a loss of HK$1.2 million in the prior-year period.

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

Total revenue fell 6.6% on an annual basis to HK$4.0 million from HK$4.3 million, and total operating expenses increased 27.8% on an annual basis to HK$8.3 million from HK$6.5 million.

Reported net income totaled a loss of HK$4.1 million, or a loss of 1 cents per share, compared to a loss of HK$1.9 million, or a loss of 0 cents per share, in the prior-year period.