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LifeBrandz fiscal Q1 loss widens YOY

LifeBrandz Ltd. said its normalized net income for the fiscal first quarter ended Oct. 31 amounted to a loss of S$482,880, compared with a loss of S$73,630 in the year-earlier period.

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

The normalized profit margin fell to negative 85.1% from negative 1.1% in the year-earlier period.

Total revenue declined 28.9% year over year to S$4.7 million from S$6.6 million, and total operating expenses fell 17.1% on an annual basis to S$5.8 million from S$7.0 million.

Reported net income came to a loss of S$871,000, or a loss of 2 cents per share, compared to a loss of S$188,000, or a loss of 1 cents per share, in the prior-year period.

As of Dec. 12, US$1 was equivalent to S$1.31.