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PCCS Group swings to loss in fiscal Q3

PCCS Group Bhd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to a loss of 2 Malaysian sen per share, compared with 2 sen 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 1.1 million ringgits, compared with income of 946,630 ringgits in the year-earlier period.

The normalized profit margin declined to negative 1.1% from 1.0% in the year-earlier period.

Total revenue rose year over year to 100.3 million ringgits from 98.4 million ringgits, and total operating expenses climbed 5.1% on an annual basis to 102.0 million ringgits from 97.0 million ringgits.

Reported net income totaled a loss of 2.0 million ringgits, or a loss of 3 sen per share, compared to income of 799,000 ringgits, or 1 sen per share, in the year-earlier period.

As of Feb. 25, US$1 was equivalent to 3.60 ringgits.