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JF Technology swings to loss in fiscal Q2

JF Technology Berhad said its normalized net income for the fiscal second quarter ended Dec. 31, 2015, came to a loss of 183,750 ringgits, compared with income of 672,500 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 negative 3.9% from 14.3% in the year-earlier period.

Total revenue came to 4.7 million ringgits, compared with 4.7 million ringgits in the prior-year period, and total operating expenses grew 39.3% on an annual basis to 4.9 million ringgits from 3.5 million ringgits.

Reported net income came to a loss of 300,000 ringgits, or a loss of 0 sen per share, compared to income of 1.1 million ringgits, or 1 sen per share, in the year-earlier period.

As of Feb. 24, US$1 was equivalent to 4.24 ringgits.