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SMIS Corp. Q3 profit falls YOY

SMIS Corp. Bhd. said its third-quarter normalized net income came to 126,630 ringgits, a fall of 70.4% from 427,380 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 declined to 0.4% from 1.2% in the year-earlier period.

Total revenue fell 14.7% on an annual basis to 31.5 million ringgits from 37.0 million ringgits, and total operating expenses declined 14.0% on an annual basis to 31.1 million ringgits from 36.2 million ringgits.

Reported net income came to a loss of 75,000 ringgits, or a loss of 0 sen per share, compared to income of 238,000 ringgits, or 1 sen per share, in the year-earlier period.

As of Nov. 26, US$1 was equivalent to 4.23 ringgits.