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AMTEK Holdings fiscal Q3 profit falls YOY

AMTEK Holdings Bhd. said its normalized net income for the fiscal third quarter ended March 31 amounted to 55,000 ringgits, a fall of 86.6% from 409,380 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 0.4% from 3.5% in the year-earlier period.

Total revenue rose 11.4% year over year to 13.1 million ringgits from 11.7 million ringgits, and total operating expenses rose 17.5% year over year to 12.5 million ringgits from 10.7 million ringgits.

Reported net income decreased 87.1% on an annual basis to 51,000 ringgits, or 0 sen per share, from 395,000 ringgits, or 1 sen per share.

As of May 27, US$1 was equivalent to 3.65 ringgits.