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REDtone International swings to loss in fiscal Q3

REDtone International Berhad said its normalized net income for the fiscal third quarter ended Jan. 31 came to a loss of 3.0 million ringgits, compared with income of 3.2 million ringgits in the third quarter ended Feb. 28, 2015.

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

The normalized profit margin fell to negative 6.7% from 8.1% in the year-earlier period.

Total revenue decreased on an annual basis to 38.7 million ringgits from 39.5 million ringgits, and total operating expenses increased 15.7% on an annual basis to 42.5 million ringgits from 36.7 million ringgits.

Reported net income totaled a loss of 7.2 million ringgits, or a loss of 1 sen per share, compared to income of 3.2 million ringgits, or 1 sen per share, in the third quarter ended Feb. 28, 2015.

As of March 23, US$1 was equivalent to 4.01 ringgits.