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Acoustech Q2 profit climbs YOY

Acoustech Berhad said its second-quarter normalized net income amounted to 970,630 ringgits, a gain from 425,750 ringgits in the year-earlier period.

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

The normalized profit margin increased to 2.9% from 2.3% in the year-earlier period.

Total revenue rose 81.7% year over year to 32.9 million ringgits from 18.1 million ringgits, and total operating expenses rose 91.0% year over year to 31.4 million ringgits from 16.4 million ringgits.

Reported net income declined 11.4% on an annual basis to 662,000 ringgits, or 0 sen per share, from 747,000 ringgits, or 0 sen per share.

As of Aug. 11, US$1 was equivalent to 3.99 ringgits.