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XOX Bhd. swings to profit in fiscal Q2

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XOX Bhd. swings to profit in fiscal Q2

XOX Berhad said its normalized net income for the fiscal second quarter ended Dec. 31, 2015, was 66,380 ringgits, compared with a loss of 25,750 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 rose to 0.2% from negative 0.1% in the year-earlier period.

Total revenue grew 88.2% year over year to 36.8 million ringgits from 19.6 million ringgits, and total operating expenses rose 89.4% year over year to 34.7 million ringgits from 18.3 million ringgits.

Reported net income rose year over year to 227,000 ringgits, or 0 sen per share, from 55,000 ringgits, or 0 sen per share.

As of Feb. 19, US$1 was equivalent to 4.22 ringgits.