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China Netcom Technology Q3 loss narrows YOY

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China Netcom Technology Q3 loss narrows YOY

China Netcom Technology Holdings Ltd said its third-quarter normalized net income amounted to a loss of HK$5.9 million, compared with a loss of HK$8.3 million in the prior-year period.

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

Total revenue declined 74.2% on an annual basis to HK$73,000 from HK$283,000, and total operating expenses decreased 13.3% on an annual basis to HK$9.8 million from HK$11.3 million.

Reported net income totaled a loss of HK$8.8 million, or a loss of 0 cents per share, compared to a loss of HK$12.2 million, or a loss of 0 cents per share, in the year-earlier period.