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Milux swings to loss in Q1

Milux Corp. Berhad said its normalized net income for the first quarter came to a loss of 215,000 ringgits, compared with income of 56,250 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 1.3% from 0.3% in the year-earlier period.

Total revenue fell 8.6% year over year to 16.5 million ringgits from 18.0 million ringgits, and total operating expenses decreased 6.2% year over year to 16.8 million ringgits from 17.9 million ringgits.

Reported net income totaled a loss of 495,000 ringgits, or a loss of 1 sen per share, compared to a loss of 339,000 ringgits, or a loss of 1 sen per share, in the prior-year period.

As of May 25, US$1 was equivalent to 4.10 ringgits.