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Sportscene fiscal Q2 loss narrows YOY

Sportscene Group Inc. said its normalized net income for the fiscal second quarter ended Feb. 28 was a loss of 2 Canadian cents per share, compared with a loss of 10 cents per share in the second quarter ended March 1, 2015.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of C$79,500, compared with a loss of C$403,880 in the second quarter ended March 1, 2015.

The normalized profit margin rose to negative 0.4% from negative 2.1% in the year-earlier period.

Total revenue grew 10.8% year over year to C$21.8 million from C$19.7 million, and total operating expenses grew 9.2% on an annual basis to C$21.9 million from C$20.1 million.

Reported net income came to a loss of C$41,650, or a loss of 1 cents per share, compared to a loss of C$374,850, or a loss of 9 cents per share, in the second quarter ended March 1, 2015.