Goodway Integrated Industries Bhd. said its normalized net income for the second quarter amounted to a loss of 1 Malaysian sen per share, compared with a loss of 1 sen per share in the prior-year period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 1.2 million ringgits, compared with a loss of 1.3 million ringgits in the prior-year period.
The normalized profit margin dropped to negative 3.1% from negative 2.4% in the year-earlier period.
Total revenue fell 29.4% year over year to 37.3 million ringgits from 52.8 million ringgits, and total operating expenses decreased 29.3% on an annual basis to 37.8 million ringgits from 53.4 million ringgits.
Reported net income came to a loss of 1.9 million ringgits, or a loss of 2 sen per share, compared to a loss of 2.2 million ringgits, or a loss of 2 sen per share, in the year-earlier period.
As of Aug. 24, US$1 was equivalent to 4.04 ringgits.