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Panasonic Manufacturing Malaysia fiscal Q1 profit climbs 47.9% YOY

Panasonic Manufacturing Malaysia Bhd. said its normalized net income for the fiscal first quarter ended June 30 came to 31 Malaysian sen per share, a gain of 48.0% from 21 sen per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 18.8 million ringgits, a gain of 47.9% from 12.7 million ringgits in the prior-year period.

The normalized profit margin climbed to 7.5% from 5.8% in the year-earlier period.

Total revenue grew 14.3% year over year to 250.5 million ringgits from 219.2 million ringgits, and total operating expenses rose 11.5% from the prior-year period to 223.0 million ringgits from 200.0 million ringgits.

Reported net income increased 44.8% on an annual basis to 23.2 million ringgits, or 38 sen per share, from 16.0 million ringgits, or 26 sen per share.

As of Aug. 21, US$1 was equivalent to 3.17 ringgits.