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Vietnam Manufacturing & Export Q2 loss narrows YOY

Vietnam Manufacturing and Export Processing (Holdings) Ltd said its second-quarter normalized net income amounted to a loss of $363,200, compared with a loss of $1.0 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 rose to negative 1.1% from negative 3.0% in the year-earlier period.

Total revenue fell year over year to $32.4 million from $32.9 million, and total operating expenses decreased 6.3% year over year to $33.1 million from $35.3 million.

Reported net income totaled a loss of $606,130, or a loss of 0 cents per share, compared to a loss of $1.6 million, or a loss of 0 cents per share, in the prior-year period.