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Jadason Enterprises swings to profit in Q1

Jadason Enterprises Ltd. said its normalized net income for the first quarter was S$192,500, compared with a loss of S$2.1 million in the year-earlier period.

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

The normalized profit margin rose to 1.3% from negative 13.6% in the year-earlier period.

Total revenue decreased 5.6% year over year to S$14.7 million from S$15.6 million, and total operating expenses declined 22.9% on an annual basis to S$14.3 million from S$18.5 million.

Reported net income totaled S$288,960, or 0 cents per share, compared to a loss of S$3.4 million, or a loss of 0 cents per share, in the year-earlier period.

As of May 3, US$1 was equivalent to S$1.35.