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Panasonic Manufacturing Malaysia fiscal Q2 profit climbs 25.3% YOY

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Panasonic Manufacturing Malaysia fiscal Q2 profit climbs 25.3% YOY

Panasonic Manufacturing Malaysia Bhd. said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to 35 Malaysian sen per share, a gain of 26.8% from 28 sen per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 21.3 million ringgits, an increase of 25.3% from 17.0 million ringgits in the year-earlier period.

The normalized profit margin climbed to 8.5% from 7.0% in the year-earlier period.

Total revenue rose on an annual basis to 249.2 million ringgits from 241.5 million ringgits, and total operating expenses came to 214.8 million ringgits, compared with 215.4 million ringgits in the year-earlier period.

Reported net income grew 24.8% from the prior-year period to 26.1 million ringgits, or 43 sen per share, from 20.9 million ringgits, or 34 sen per share.

As of Nov. 28, US$1 was equivalent to 3.38 ringgits.