YHI International Ltd. said its third-quarter normalized net income amounted to S$1.3 million, a decrease of 45.6% from S$2.4 million in the prior-year period.

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

The normalized profit margin dropped to 1.1% from 1.8% in the year-earlier period.

Total revenue fell 8.9% on an annual basis to S$121.3 million from S$133.1 million, and total operating expenses decreased 7.4% from the prior-year period to S$118.5 million from S$128.0 million.

Reported net income increased 49.5% on an annual basis to S$3.3 million, or 1 cents per share, from S$2.2 million, or 1 cents per share.

As of Nov. 12, US$1 was equivalent to S$1.42.