Micro-Mechanics (Holdings) Ltd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2015, amounted to 2 Singapore cents per share, a decline from 2 cents per share in the prior-year period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was S$2.2 million, a decrease from S$2.3 million in the year-earlier period.
The normalized profit margin increased to 17.9% from 17.5% in the year-earlier period.
Total revenue declined 5.5% year over year to S$12.2 million from S$12.9 million, and total operating expenses decreased 9.5% on an annual basis to S$8.6 million from S$9.5 million.
Reported net income rose from the prior-year period to S$2.7 million, or 2 cents per share, from S$2.7 million, or 2 cents per share.
As of Jan. 28, US$1 was equivalent to S$1.43.
