San Teh Ltd. said its third-quarter normalized net income came to S$1.3 million, compared with a loss of S$86,250 in the year-earlier period.

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

The normalized profit margin increased to 21.4% from negative 0.9% in the year-earlier period.

Total revenue decreased 27.5% on an annual basis to S$6.6 million from S$9.1 million, and total operating expenses decreased 47.3% on an annual basis to S$6.0 million from S$11.3 million.

Reported net income grew from the prior-year period to S$1.8 million, or 1 cents per share, from S$581,440, or 0 cents per share.

As of Nov. 13, US$1 was equivalent to S$1.42.