Sungei Bagan Rubber Co. (Malaya) Bhd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, amounted to a loss of 405,000 ringgits, compared with income of 3.6 million ringgits in the prior-year period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
The normalized profit margin declined to negative 16.1% from 77.2% in the year-earlier period.
Total revenue declined 46.4% year over year to 2.5 million ringgits from 4.7 million ringgits, and total operating expenses decreased 27.6% from the prior-year period to 1.3 million ringgits from 1.8 million ringgits.
Reported net income totaled a loss of 884,000 ringgits, or a loss of 1 sen per share, compared to income of 5.1 million ringgits, or 8 sen per share, in the prior-year period.
As of Feb. 17, US$1 was equivalent to 3.58 ringgits.
