Globaltec Formation Berhad said its normalized net income for the fiscal second quarter ended Dec. 31, 2015, was 44.6 million ringgits, an increase from 3.8 million 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 fell to 2.4% from 5.2% in the year-earlier period.
Total revenue increased on an annual basis to 75.5 million ringgits from 73.8 million ringgits, and total operating expenses declined 94.8% from the prior-year period to 3.4 million ringgits from 66.3 million ringgits.
Reported net income fell 84.8% on an annual basis to 708,000 ringgits, or 0 sen per share, from 4.6 million ringgits, or 0 sen per share.
As of Feb. 25, US$1 was equivalent to 4.22 ringgits.
