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M3 Technologies (Asia) fiscal Q3 loss narrows YOY

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M3 Technologies (Asia) fiscal Q3 loss narrows YOY

M3 Technologies (Asia) Bhd. said its normalized net income for the fiscal third quarter ended March 31 was a loss of 136,500 ringgits, compared with a loss of 513,880 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 climbed to negative 1.3% from negative 5.2% in the year-earlier period.

Total revenue grew on an annual basis to 10.2 million ringgits from 9.8 million ringgits, and total operating expenses decreased 6.5% on an annual basis to 9.4 million ringgits from 10.1 million ringgits.

Reported net income came to a loss of 316,000 ringgits, or a loss of 0 sen per share, compared to a loss of 903,000 ringgits, or a loss of 1 sen per share, in the prior-year period.

As of May 27, US$1 was equivalent to 4.08 ringgits.