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NetX Holdings swings to profit in fiscal Q2

NetX Holdings Berhad said its normalized net income for the fiscal second quarter ended Dec. 31, 2015, was 1.7 million ringgits, compared with a loss of 193,750 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 35.6% from negative 16.4% in the year-earlier period.

Total revenue increased on an annual basis to 4.9 million ringgits from 1.2 million ringgits, and total operating expenses rose 42.1% year over year to 2.1 million ringgits from 1.4 million ringgits.

Reported net income totaled 2.8 million ringgits, or 0 sen per share, compared to a loss of 310,000 ringgits, or a loss of 0 sen per share, in the year-earlier period.

As of Feb. 18, US$1 was equivalent to 4.17 ringgits.