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Zhejiang Busen Garments Q2 loss widens YOY

4915985 said its normalized net income for the second quarter amounted to a loss of 12 fen per share, compared with a loss of 4 fen per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 19.9 million yuan, compared with a loss of 6.6 million yuan in the prior-year period.

The normalized profit margin dropped to negative 41.3% from negative 9.7% in the year-earlier period.

Total revenue fell 29.9% year over year to 48.2 million yuan from 68.7 million yuan, and total operating expenses totaled 79.9 million yuan, compared with 79.7 million yuan in the prior-year period.

Reported net income totaled a loss of 21.8 million yuan, or a loss of 13 fen per share, compared to a loss of 8.0 million yuan, or a loss of 4 fen per share, in the prior-year period.

s of Aug. 12, US$1 was equivalent to 6.63 yuan.Zhejiang Busen Garments Co. Ltd.

4915985 said its normalized net income for the second quarter amounted to a loss of 12 fen per share, compared with a loss of 4 fen per share in the prior-year period.