Eurospan Holdings Bhd. said its normalized net income for the fiscal first quarter ended Aug. 31 amounted to 305,630 ringgits, a decline of 66.1% from 902,500 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 2.0% from 5.3% in the year-earlier period.
Total revenue decreased 11.4% on an annual basis to 15.2 million ringgits from 17.1 million ringgits, and total operating expenses decreased from the prior-year period to 15.2 million ringgits from 15.7 million ringgits.
Reported net income decreased 76.2% year over year to 372,000 ringgits, or 1 sen per share, from 1.6 million ringgits, or 4 sen per share.
As of Sept. 29, US$1 was equivalent to 3.28 ringgits.
