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Silverlake Axis fiscal Q2 profit falls YOY

Silverlake Axis Ltd said its normalized net income for the fiscal second quarter ended Dec. 31, 2015, came to 2 Malaysian sen per share, compared with 2 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 46.8 million ringgits, a decrease from 47.4 million ringgits in the prior-year period.

The normalized profit margin dropped to 26.0% from 37.1% in the year-earlier period.

Total revenue grew 40.1% on an annual basis to 179.0 million ringgits from 127.7 million ringgits, and total operating expenses climbed 97.5% on an annual basis to 108.8 million ringgits from 55.1 million ringgits.

Reported net income declined 7.0% year over year to 66.6 million ringgits, or 3 sen per share, from 71.6 million ringgits, or 3 sen per share.

As of Feb. 11, US$1 was equivalent to 4.14 ringgits.