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Hour Glass fiscal Q3 profit climbs 7.3% YOY

Hour Glass Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was 2 Singapore cents per share, an increase of 7.3% from 2 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was S$11.8 million, an increase of 7.3% from S$11.0 million in the year-earlier period.

The normalized profit margin increased to 6.3% from 6.1% in the year-earlier period.

Total revenue climbed year over year to S$186.7 million from S$179.2 million, and total operating expenses rose from the prior-year period to S$168.9 million from S$162.0 million.

Reported net income grew 7.4% on an annual basis to S$14.8 million, or 2 cents per share, from S$13.8 million, or 2 cents per share.

As of Feb. 11, US$1 was equivalent to S$1.36.