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Hume Industries swings to profit in fiscal Q2

Hume Industries Bhd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, amounted to 3 Malaysian sen per share, compared with a loss of 4 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 10.1 million ringgits, compared with a loss of 1.3 million ringgits in the year-earlier period.

The normalized profit margin climbed to 8.7% from negative 13.1% in the year-earlier period.

Total revenue increased year over year to 116.7 million ringgits from 9.6 million ringgits, and total operating expenses climbed on an annual basis to 97.8 million ringgits from 11.6 million ringgits.

Reported net income totaled 12.2 million ringgits, or 3 sen per share, compared to a loss of 1.9 million ringgits, or a loss of 6 sen per share, in the prior-year period.

As of Jan. 22, US$1 was equivalent to 3.59 ringgits.