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MDR Ltd. swings to loss in Q1

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MDR Ltd. swings to loss in Q1

mDR Ltd. said its normalized net income for the first quarter came to a loss of S$306,380, compared with income of S$338,130 in the prior-year period.

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

The normalized profit margin dropped to negative 0.5% from 0.5% in the year-earlier period.

Total revenue grew year over year to S$76.0 million from S$74.9 million, and total operating expenses climbed year over year to S$76.1 million from S$74.5 million.

Reported net income totaled a loss of S$169,000, or a loss of 0 cents per share, compared to income of S$626,410, or 0 cents per share, in the prior-year period.

As of May 12, US$1 was equivalent to S$1.37.