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L&A International fiscal Q3 loss narrows YOY

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L&A International fiscal Q3 loss narrows YOY

L&A International Holdings Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, amounted to a loss of HK$2.8 million, compared with a loss of HK$4.1 million in the year-earlier period.

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

The normalized profit margin declined to negative 7.1% from negative 4.9% in the year-earlier period.

Total revenue decreased 53.1% year over year to HK$39.7 million from HK$84.5 million, and total operating expenses declined 50.6% year over year to HK$44.5 million from HK$90.0 million.

Reported net income totaled a loss of HK$3.4 million, or a loss of 0 cents per share, compared to a loss of HK$6.0 million, or a loss of 1 cents per share, in the year-earlier period.