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Eduspec Holdings fiscal Q4 profit climbs 40.2% YOY

Eduspec Holdings Bhd. said its normalized net income for the fiscal fourth quarter ended Sept. 30, 2015, came to 5.2 million ringgits, an increase of 40.2% from 3.7 million ringgits in the year-earlier period.

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

The normalized profit margin rose to 33.9% from 12.6% in the year-earlier period.

Total revenue declined on an annual basis to 28.8 million ringgits from 29.4 million ringgits, and total operating expenses decreased from the prior-year period to 22.6 million ringgits from 22.8 million ringgits.

Reported net income increased 39.9% year over year to 8.7 million ringgits, or 1 sen per share, from 6.2 million ringgits, or 1 sen per share.

For the year, the company's normalized net income totaled 6.2 million ringgits, a gain of 63.9% from 3.8 million ringgits in the prior year.

Full-year total revenue grew 31.4% year over year to 77.2 million ringgits from 58.8 million ringgits, and total operating expenses increased 38.7% year over year to 75.2 million ringgits from 54.3 million ringgits.

The company said reported net income increased 56.8% year over year to 9.9 million ringgits, or 1 sen per share, in the full year, from 6.3 million ringgits, or 1 sen per share.

As of Jan. 29, US$1 was equivalent to 4.14 ringgits.