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Milux swings to loss in Q2

Milux Corp. Berhad said its normalized net income for the second quarter came to a loss of 173,130 ringgits, compared with income of 248,130 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 dropped to negative 0.9% from 1.5% in the year-earlier period.

Total revenue climbed 17.4% year over year to 19.2 million ringgits from 16.3 million ringgits, and total operating expenses increased 22.1% from the prior-year period to 19.4 million ringgits from 15.9 million ringgits.

Reported net income came to a loss of 315,000 ringgits, or a loss of 1 sen per share, compared to income of 179,000 ringgits, or 0 sen per share, in the prior-year period.

As of Aug. 24, US$1 was equivalent to 4.04 ringgits.