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Signature International fiscal Q3 profit falls YOY

Signature International Bhd. said its normalized net income for the fiscal third quarter ended March 31 amounted to 2 Malaysian sen per share, a decrease of 62.9% from 5 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 4.1 million ringgits, a decline of 63.0% from 11.1 million ringgits in the year-earlier period.

The normalized profit margin fell to 7.5% from 12.6% in the year-earlier period.

Total revenue fell 37.5% on an annual basis to 54.7 million ringgits from 87.5 million ringgits, and total operating expenses fell 30.5% from the prior-year period to 47.4 million ringgits from 68.2 million ringgits.

Reported net income decreased 62.6% on an annual basis to 5.0 million ringgits, or 2 sen per share, from 13.4 million ringgits, or 6 sen per share.

As of May 16, US$1 was equivalent to 4.02 ringgits.