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Rev Asia Q1 loss narrows YOY

Rev Asia Bhd. said its first-quarter normalized net income amounted to a loss of 696,250 ringgits, compared with a loss of 1.7 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 increased to negative 17.0% from negative 43.9% in the year-earlier period.

Total revenue grew 8.0% year over year to 4.1 million ringgits from 3.8 million ringgits, and total operating expenses grew 8.9% year over year to 4.0 million ringgits from 3.7 million ringgits.

Reported net income totaled a loss of 952,000 ringgits, or a loss of 1 sen per share, compared to a loss of 2.3 million ringgits, or a loss of 2 sen per share, in the prior-year period.

As of May 30, US$1 was equivalent to 4.11 ringgits.