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Santa Fe Financial fiscal Q2 loss widens YOY

Santa Fe Financial Corp. said its normalized net income for the fiscal second quarter ended Dec. 31, 2015, was a loss of $1.61 per share, compared with a loss of 57 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $2.0 million, compared with a loss of $707,500 in the prior-year period.

The normalized profit margin dropped to negative 18.5% from negative 5.2% in the year-earlier period.

Total revenue declined 20.4% year over year to $10.8 million from $13.6 million, and total operating expenses totaled $13.0 million, compared with $13.0 million in the prior-year period.

Reported net income totaled a loss of $2.4 million, or a loss of $1.92 per share, compared to a loss of $772,000, or a loss of 62 cents per share, in the prior-year period.