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Hume Industries swings to profit in fiscal Q3

Hume Industries Bhd. said its normalized net income for the fiscal third quarter ended March 31 was 3 Malaysian sen per share, compared with a loss of 1 sen per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 15.6 million ringgits, compared with a loss of 394,380 ringgits in the year-earlier period.

The normalized profit margin climbed to 9.0% from negative 3.7% in the year-earlier period.

Total revenue increased year over year to 172.7 million ringgits from 10.6 million ringgits, and total operating expenses grew from the prior-year period to 143.5 million ringgits from 11.2 million ringgits.

Reported net income came to 19.3 million ringgits, or 4 sen per share, compared to a loss of 591,000 ringgits, or a loss of 2 sen per share, in the year-earlier period.

As of April 29, US$1 was equivalent to 3.55 ringgits.