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Eduspec Holdings fiscal Q1 loss narrows YOY

Eduspec Holdings Bhd. said its normalized net income for the fiscal first quarter ended Dec. 31, 2014, came to a loss of 2.0 million ringgits, compared with a loss of 2.4 million 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 rose to negative 22.6% from negative 48.7% in the year-earlier period.

Total revenue climbed 84.3% on an annual basis to 8.9 million ringgits from 4.8 million ringgits, and total operating expenses rose 49.7% on an annual basis to 13.3 million ringgits from 8.9 million ringgits.

Reported net income totaled a loss of 3.4 million ringgits, or a loss of 0 sen per share, compared to a loss of 3.8 million ringgits, or a loss of 1 sen per share, in the year-earlier period.

As of Feb. 26, US$1 was equivalent to 3.60 ringgits.