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Maiden Lane Jewelry swings to loss in fiscal Q2

Maiden Lane Jewelry Ltd. said its normalized net income for the fiscal second quarter ended Nov. 30, 2015, came to a loss of $214,390, compared with income of $88,680 in the prior-year period.

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

The normalized profit margin fell to negative 11.0% from 3.2% in the year-earlier period.

Total revenue fell 28.8% year over year to $1.9 million from $2.7 million, and total operating expenses decreased 13.9% year over year to $2.2 million from $2.5 million.

Reported net income came to a loss of $314,830, or a loss of 3 cents per share, compared to income of $105,140, or 1 cents per share, in the year-earlier period.