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Inix Technologies swings to loss in fiscal Q2

Inix Technologies Holdings Bhd. said its normalized net income for the fiscal second quarter ended Jan. 31 came to a loss of 1.5 million ringgits, compared with income of 458,130 ringgits in the year-earlier period.

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

Total revenue decreased 98.9% on an annual basis to 24,000 ringgits from 2.1 million ringgits, and total operating expenses climbed 36.4% from the prior-year period to 1.7 million ringgits from 1.2 million ringgits.

Reported net income came to a loss of 2.4 million ringgits, or a loss of 1 sen per share, compared to income of 733,000 ringgits, or 1 sen per share, in the prior-year period.

As of March 31, US$1 was equivalent to 3.87 ringgits.