Boulevard Holdings Inc. said its normalized net income for the fiscal third quarter ended Feb. 28 came to a loss of 3.6 million pesos, compared with income of 2.4 million pesos in the year-earlier period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
The normalized profit margin dropped to negative 27.7% from 5.0% in the year-earlier period.
Total revenue fell 73.0% on an annual basis to 13.1 million pesos from 48.6 million pesos, and total operating expenses decreased 53.1% from the prior-year period to 20.1 million pesos from 42.8 million pesos.
Reported net income came to a loss of 6.2 million pesos, or a loss of 0 centavos per share, compared to income of 2.2 million pesos, or 0 centavos per share, in the year-earlier period.
As of April 20, US$1 was equivalent to 44.25 Philippine pesos.
