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FCW Holdings swings to loss in fiscal Q2

FCW Holdings Bhd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, was a loss of 1.0 million ringgits, compared with income of 558,500 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 declined to negative 18.0% from 9.1% in the year-earlier period.

Total revenue declined 5.0% on an annual basis to 5.8 million ringgits from 6.1 million ringgits, and total operating expenses rose from the prior-year period to 6.1 million ringgits from 5.8 million ringgits.

Reported net income came to a loss of 1.7 million ringgits, or a loss of 1 sen per share, compared to income of 846,000 ringgits, or 0 sen per share, in the year-earlier period.

As of Feb. 17, US$1 was equivalent to 3.58 ringgits.