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Compugates Holdings Q3 loss widens YOY

Compugates Holdings Berhad said its normalized net income for the third quarter came to a loss of 2.5 million ringgits, compared with a loss of 538,880 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 fell to negative 20.5% from negative 1.8% in the year-earlier period.

Total revenue declined 58.7% year over year to 12.4 million ringgits from 30.1 million ringgits, and total operating expenses fell 54.7% from the prior-year period to 14.6 million ringgits from 32.2 million ringgits.

Reported net income came to a loss of 1.9 million ringgits, or a loss of 0 sen per share, compared to a loss of 1.5 million ringgits, or a loss of 0 sen per share, in the prior-year period.

As of Dec. 7, US$1 was equivalent to 4.42 ringgits.