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Echo International fiscal Q3 loss widens YOY

Echo International Holdings Group Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, was a loss of HK$3.3 million, compared with a loss of HK$1.4 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 35.3% from negative 12.4% in the year-earlier period.

Total revenue decreased 18.3% year over year to HK$9.5 million from HK$11.6 million, and total operating expenses grew year over year to HK$14.5 million from HK$13.9 million.

Reported net income came to a loss of HK$5.3 million, or a loss of 1 cents per share, compared to a loss of HK$2.3 million, or a loss of 0 cents per share, in the year-earlier period.