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Qian Hu swings to loss in Q3

Qian Hu Corp. Ltd. said its third-quarter normalized net income came to a loss of S$39,220, compared with income of S$66,830 in the prior-year period.

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

The normalized profit margin dropped to negative 0.2% from 0.4% in the year-earlier period.

Total revenue increased 10.1% on an annual basis to S$19.6 million from S$17.8 million, and total operating expenses increased 11.2% from the prior-year period to S$19.5 million from S$17.6 million.

Reported net income declined 94.6% year over year to S$5,000, or 0 cents per share, from S$93,000, or 0 cents per share.

As of Oct. 17, US$1 was equivalent to S$1.39.