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Eurosports Global fiscal H2 loss narrows YOY

Eurosports Global Ltd. said its normalized net income for the fiscal second half ended March 31 was a loss of S$33,130, compared with a loss of S$1.8 million in the prior-year period.

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

Total revenue grew 90.7% year over year to S$24.6 million from S$12.9 million, and total operating expenses increased 63.2% year over year to S$28.3 million from S$17.3 million.

Reported net income came to a loss of S$887,000, or a loss of 0 cents per share, compared to income of S$15.1 million, or 6 cents per share, in the year-earlier period.

For the year, the company's normalized net income totaled S$3.0 million, compared with a loss of S$-636,250 in the prior year.

Full-year total revenue increased year over year to S$40.4 million from S$39.8 million, and total operating expenses grew 15.1% year over year to S$50.1 million from S$43.6 million.

The company said reported net income came to a loss of S$4.0 million, or a loss of 2 cents per share, in the full year, compared with income of S$17.0 million, or 7 cents per share, the prior year.

As of July 10, US$1 was equivalent to S$1.35.