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Eduspec Holdings fiscal Q1 loss widens 20.3% YOY

Eduspec Holdings Bhd. said its normalized net income for the fiscal first quarter ended Dec. 31, 2015, came to a loss of 2.4 million ringgits, compared with a loss of 2.0 million 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 dropped to negative 24.6% from negative 22.6% in the year-earlier period.

Total revenue climbed 10.4% year over year to 9.9 million ringgits from 8.9 million ringgits, and total operating expenses rose 8.6% from the prior-year period to 14.5 million ringgits from 13.3 million ringgits.

Reported net income came to a loss of 4.2 million ringgits, or a loss of 0 sen per share, compared to a loss of 3.4 million ringgits, or a loss of 0 sen per share, in the year-earlier period.

As of Feb. 29, US$1 was equivalent to 4.21 ringgits.