Sportscene Group Inc. said its normalized net income for the fiscal second quarter ended March 1 was a loss of 9 Canadian cents per share, compared with 15 cents per share in the second quarter ended Feb. 23, 2014.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of C$363,880, compared with income of C$634,000 in the second quarter ended Feb. 23, 2014.
The normalized profit margin dropped to negative 2.1% from 3.5% in the year-earlier period.
Total revenue increased 8.6% on an annual basis to C$19.7 million from C$18.1 million, and total operating expenses rose 15.1% year over year to C$20.0 million from C$17.4 million.
Reported net income came to a loss of C$374,850, or a loss of 9 cents per share, compared to income of C$846,200, or 20 cents per share, in the second quarter ended Feb. 23, 2014.
