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Jackspeed fiscal H2 profit climbs YOY

Jackspeed Corp. Ltd. said its normalized net income for the fiscal second half ended Feb. 28 was S$804,250, a gain from S$124,130 in the prior-year period.

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

Total revenue increased 33.7% on an annual basis to S$21.5 million from S$16.1 million, and total operating expenses increased 28.5% from the prior-year period to S$20.3 million from S$15.8 million.

Reported net income grew year over year to S$876,000, or 0 cents per share, from S$395,000, or 0 cents per share.

For the year, the company's normalized net income totaled S$1.6 million, a rise from S$205,630 in the prior year.

Full-year total revenue increased 17.8% year over year to S$40.1 million from S$34.0 million, and total operating expenses rose 12.1% on an annual basis to S$37.4 million from S$33.3 million.

The company said reported net income rose on an annual basis to S$2.3 million, or 1 cents per share, in the full year, from S$540,000, or 0 cents per share.

As of June 4, US$1 was equivalent to S$1.35.