Zhulian Corp. Bhd. said its normalized net income for the fiscal first quarter ended Feb. 29 was 1 Malaysian sen per share, a decline of 36.3% from 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 6.9 million ringgits, a decline of 36.3% from 10.8 million ringgits in the year-earlier period.

The normalized profit margin dropped to 14.2% from 19.5% in the year-earlier period.

Total revenue decreased 12.8% on an annual basis to 48.2 million ringgits from 55.2 million ringgits, and total operating expenses decreased 12.8% from the prior-year period to 42.1 million ringgits from 48.2 million ringgits.

Reported net income declined 43.6% year over year to 7.1 million ringgits, or 2 sen per share, from 12.6 million ringgits, or 3 sen per share.

As of April 13, US$1 was equivalent to 3.88 ringgits.