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SinoCloud fiscal Q3 loss narrows YOY

SinoCloud Group Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, amounted to a loss of HK$4.1 million, compared with a loss of HK$6.7 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 67.7% from negative 235.9% in the year-earlier period.

Total revenue climbed year over year to HK$6.1 million from HK$2.8 million, and total operating expenses rose on an annual basis to HK$13.2 million from HK$12.7 million.

Reported net income came to a loss of HK$7.8 million, or a loss of 0 cents per share, compared to a loss of HK$12.9 million, or a loss of 0 cents per share, in the year-earlier period.