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Industronics Q1 loss widens 32.9% YOY

Industronics Bhd. said its first-quarter normalized net income came to a loss of 2 Malaysian sen per share, compared with a loss of 1 sen per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 1.9 million ringgits, compared with a loss of 1.5 million ringgits in the year-earlier period.

The normalized profit margin declined to negative 85.1% from negative 37.0% in the year-earlier period.

Total revenue fell 42.1% on an annual basis to 2.3 million ringgits from 4.0 million ringgits, and total operating expenses fell 12.4% on an annual basis to 5.8 million ringgits from 6.6 million ringgits.

Reported net income totaled a loss of 3.2 million ringgits, or a loss of 3 sen per share, compared to a loss of 2.4 million ringgits, or a loss of 2 sen per share, in the prior-year period.

As of May 31, US$1 was equivalent to 4.11 ringgits.