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M3 Technologies (Asia) fiscal Q2 loss widens 34.9% YOY

M3 Technologies (Asia) Bhd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2015, came to a loss of 684,000 ringgits, compared with a loss of 506,880 ringgits 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 6.2% from negative 6.1% in the year-earlier period.

Total revenue rose 31.9% year over year to 11.0 million ringgits from 8.3 million ringgits, and total operating expenses grew 30.1% year over year to 11.1 million ringgits from 8.5 million ringgits.

Reported net income came to a loss of 1.2 million ringgits, or a loss of 1 sen per share, compared to a loss of 798,000 ringgits, or a loss of 0 sen per share, in the year-earlier period.

As of Feb. 29, US$1 was equivalent to 4.21 ringgits.