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Emico Holdings swings to profit in fiscal Q3

Emico Holdings Bhd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to 226,630 ringgits, compared with a loss of 302,880 ringgits in the year-earlier period.

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

The normalized profit margin climbed to 1.4% from negative 2.0% in the year-earlier period.

Total revenue increased 5.1% year over year to 16.0 million ringgits from 15.3 million ringgits, and total operating expenses climbed on an annual basis to 15.6 million ringgits from 15.4 million ringgits.

Reported net income totaled 364,000 ringgits, or 0 sen per share, compared to a loss of 381,000 ringgits, or a loss of 0 sen per share, in the prior-year period.

As of Feb. 27, US$1 was equivalent to 3.61 ringgits.