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Avi-Tech Electronics fiscal Q2 profit climbs 72.7% YOY

Avi-Tech Electronics Ltd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2015, amounted to S$1.3 million, a gain of 72.7% from S$735,000 in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin increased to 16.1% from 10.7% in the year-earlier period.

Total revenue grew 14.1% on an annual basis to S$7.9 million from S$6.9 million, and total operating expenses increased on an annual basis to S$5.8 million from S$5.7 million.

Reported net income rose 44.1% from the prior-year period to S$1.7 million, or 1 cents per share, from S$1.2 million, or 1 cents per share.

As of Feb. 12, US$1 was equivalent to S$1.40.