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KOP Ltd. swings to profit in fiscal Q2

KOP Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 came to S$168,630, compared with a loss of S$1.9 million in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin rose to 4.6% from negative 48.5% in the year-earlier period.

Total revenue fell 7.9% year over year to S$3.7 million from S$4.0 million, and total operating expenses decreased 29.8% year over year to S$4.7 million from S$6.7 million.

Reported net income came to S$85,000, or 0 cents per share, compared to a loss of S$3.2 million, or a loss of 0 cents per share, in the year-earlier period.

As of Nov. 13, US$1 was equivalent to S$1.42.