HL Global Enterprises Ltd said its first-quarter normalized net income amounted to a loss of S$705,000, compared with a loss of S$810,630 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 21.2% from negative 30.6% in the year-earlier period.

Total revenue rose 25.6% year over year to S$3.3 million from S$2.7 million, and total operating expenses climbed 8.6% year over year to S$3.1 million from S$2.8 million.

Reported net income totaled a loss of S$1.2 million, or a loss of 1 cents per share, compared to a loss of S$1.3 million, or a loss of 1 cents per share, in the prior-year period.

As of April 29, US$1 was equivalent to S$1.34.