CASA Holdings Ltd. said its normalized net income for the fiscal first half ended March 31 amounted to S$136,630, a decline of 86.8% from S$1.0 million in the year-earlier period.

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

Total revenue fell 30.1% on an annual basis to S$8.3 million from S$11.8 million, and total operating expenses fell 27.3% year over year to S$9.1 million from S$12.5 million.

Reported net income totaled a loss of S$342,000, or a loss of 0 cents per share, compared to income of S$1.0 million, or 0 cents per share, in the prior-year period.

As of May 11, US$1 was equivalent to S$1.37.