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MCE Holdings swings to loss in fiscal Q2

MCE Holdings Bhd. said its normalized net income for the fiscal second quarter ended Jan. 31 amounted to a loss of 2 Malaysian sen per share, compared with 2 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 a loss of 912,500 ringgits, compared with income of 892,500 ringgits in the year-earlier period.

The normalized profit margin fell to negative 4.5% from 3.8% in the year-earlier period.

Total revenue decreased 13.5% year over year to 20.4 million ringgits from 23.6 million ringgits, and total operating expenses decreased year over year to 21.9 million ringgits from 22.2 million ringgits.

Reported net income came to a loss of 1.2 million ringgits, or a loss of 3 sen per share, compared to income of 923,000 ringgits, or 2 sen per share, in the prior-year period.

As of March 28, US$1 was equivalent to 4.01 ringgits.