Hai-O Enterprise Bhd. said its normalized net income for the fiscal third quarter ended Jan. 31 came to 2 Malaysian sen per share, a decline of 28.3% from 3 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 6.2 million ringgits, a decline of 28.7% from 8.6 million ringgits in the prior-year period.
The normalized profit margin dropped to 9.9% from 12.0% in the year-earlier period.
Total revenue fell 13.5% year over year to 62.0 million ringgits from 71.6 million ringgits, and total operating expenses declined 8.8% from the prior-year period to 52.8 million ringgits from 57.9 million ringgits.
Reported net income declined 29.8% from the prior-year period to 7.3 million ringgits, or 2 sen per share, from 10.4 million ringgits, or 4 sen per share.
As of March 24, US$1 was equivalent to 3.65 ringgits.
