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AMTEK Holdings fiscal Q2 loss widens YOY

AMTEK Holdings Bhd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2015, amounted to a loss of 845,000 ringgits, compared with a loss of 260,630 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 fell to negative 12.3% from negative 2.7% in the year-earlier period.

Total revenue declined 29.5% on an annual basis to 6.9 million ringgits from 9.7 million ringgits, and total operating expenses fell 19.8% year over year to 7.8 million ringgits from 9.7 million ringgits.

Reported net income totaled a loss of 1.4 million ringgits, or a loss of 3 sen per share, compared to a loss of 385,000 ringgits, or a loss of 1 sen per share, in the prior-year period.

As of Feb. 26, US$1 was equivalent to 4.20 ringgits.