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SMTrack swings to profit in fiscal Q3

SMTrack Bhd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, was 450,000 ringgits, compared with a loss of 1.1 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 was 17.7%.

Total revenue rose on an annual basis to 2.5 million ringgits from 214,000 ringgits, and total operating expenses decreased 7.5% from the prior-year period to 1.8 million ringgits from 2.0 million ringgits.

Reported net income totaled 720,000 ringgits, or 1 sen per share, compared to a loss of 6.7 million ringgits, or a loss of 10 sen per share, in the prior-year period.

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