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JF Technology swings to loss in fiscal Q3

JF Technology Berhad said its normalized net income for the fiscal third quarter ended March 31 came to a loss of 473,750 ringgits, compared with income of 155,000 ringgits in the year-earlier period.

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

The normalized profit margin dropped to negative 11.6% from 4.1% in the year-earlier period.

Total revenue rose 7.2% year over year to 4.1 million ringgits from 3.8 million ringgits, and total operating expenses climbed 36.9% from the prior-year period to 4.8 million ringgits from 3.5 million ringgits.

Reported net income totaled a loss of 761,000 ringgits, or a loss of 0 sen per share, compared to income of 248,000 ringgits, or 0 sen per share, in the prior-year period.

As of May 23, US$1 was equivalent to 4.09 ringgits.