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IRIS Corp. fiscal Q3 profit climbs YOY

IRIS Corporation Bhd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, amounted to 13.3 million ringgits, a gain from 5.5 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 rose to 9.2% from 4.2% in the year-earlier period.

Total revenue increased 11.2% on an annual basis to 145.1 million ringgits from 130.5 million ringgits, and total operating expenses grew 19.2% from the prior-year period to 146.0 million ringgits from 122.4 million ringgits.

Reported net income declined from the prior-year period to 7.4 million ringgits, or 0 sen per share, from 7.6 million ringgits, or 0 sen per share.

As of Feb. 24, US$1 was equivalent to 4.24 ringgits.