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Systech fiscal Q3 profit falls YOY

Systech Bhd said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, amounted to 247,250 ringgits, a fall of 70.6% from 842,130 ringgits in the prior-year period.

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

The normalized profit margin fell to 7.8% from 27.8% in the year-earlier period.

Total revenue rose year over year to 3.2 million ringgits from 3.0 million ringgits, and total operating expenses rose 47.0% from the prior-year period to 2.5 million ringgits from 1.7 million ringgits.

Reported net income decreased 68.7% from the prior-year period to 335,000 ringgits, or 0 sen per share, from 1.1 million ringgits, or 0 sen per share.

As of Feb. 23, US$1 was equivalent to 4.22 ringgits.