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Compugates Holdings Q1 loss narrows YOY

Compugates Holdings Berhad said its normalized net income for the first quarter was a loss of 1.2 million ringgits, compared with a loss of 1.4 million 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 negative 3.5% from negative 4.2% in the year-earlier period.

Total revenue rose on an annual basis to 35.5 million ringgits from 34.2 million ringgits, and total operating expenses grew on an annual basis to 39.3 million ringgits from 38.7 million ringgits.

Reported net income totaled a loss of 2.5 million ringgits, or a loss of 0 sen per share, compared to a loss of 3.0 million ringgits, or a loss of 0 sen per share, in the prior-year period.

As of May 25, US$1 was equivalent to 3.62 ringgits.