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Emico Holdings swings to profit in fiscal Q4

Emico Holdings Bhd. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to 1.7 million ringgits, compared with a loss of 877,750 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 6.1% from negative 5.6% in the year-earlier period.

Total revenue climbed 76.7% year over year to 27.8 million ringgits from 15.7 million ringgits, and total operating expenses increased year over year to 12.7 million ringgits from 5.5 million ringgits.

Reported net income totaled 2.4 million ringgits, or 3 sen per share, compared to a loss of 1.1 million ringgits, or a loss of 1 sen per share, in the prior-year period.

For the year, the company's normalized net income totaled 1.3 million ringgits, compared with a loss of -27,750 ringgits in the prior year.

Full-year total revenue grew 8.9% year over year to 75.5 million ringgits from 69.4 million ringgits, and total operating expenses increased 5.8% year over year to 60.6 million ringgits from 57.3 million ringgits.

The company said reported net income rose year over year to 1.8 million ringgits, or 2 sen per share, in the full year, from 328,320 ringgits, or 0 sen per share.

As of July 13, US$1 was equivalent to 3.81 ringgits.