4912074 said its second-quarter normalized net income came to S$1.8 million, a decline of 56.4% from S$4.0 million in the year-earlier period.

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

The normalized profit margin dropped to 7.2% from 16.1% in the year-earlier period.

Total revenue declined year over year to S$24.4 million from S$25.0 million, and total operating expenses grew 5.0% year over year to S$19.6 million from S$18.6 million.

eported net income declined 61.5% on an a Overseas Education Ltd.