Sage International Group Ltd. said its normalized net income for the first quarter amounted to a loss of HK$2.4 million, compared with a loss of HK$3.7 million in the prior-year period.

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

The normalized profit margin climbed to negative 52.6% from negative 101.8% in the year-earlier period.

Total revenue increased 29.3% on an annual basis to HK$4.7 million from HK$3.6 million, and total operating expenses increased 16.8% year over year to HK$8.6 million from HK$7.3 million.

Reported net income totaled a loss of HK$4.0 million, or a loss of 1 cents per share, compared to a loss of HK$5.3 million, or a loss of 1 cents per share, in the prior-year period.