Magni-Tech Industries Bhd. said its normalized net income for the fiscal second quarter ended Oct. 31 came to 4 Malaysian sen per share, a decrease of 14.5% from 5 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 6.8 million ringgits, a decline of 14.5% from 7.9 million ringgits in the prior-year period.
The normalized profit margin dropped to 4.2% from 5.2% in the year-earlier period.
Total revenue grew 7.5% on an annual basis to 162.0 million ringgits from 150.8 million ringgits, and total operating expenses increased 9.7% year over year to 151.8 million ringgits from 138.4 million ringgits.
Reported net income fell 15.6% on an annual basis to 8.0 million ringgits, or 5 sen per share, from 9.5 million ringgits, or 6 sen per share.
As of Dec. 3, US$1 was equivalent to 3.44 ringgits.
