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Global Yellow Pages swings to profit in fiscal Q1

Global Yellow Pages Ltd. said its normalized net income for the fiscal first quarter ended Sept. 30 amounted to S$760,630, compared with a loss of S$1.6 million 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 6.4% from negative 28.7% in the year-earlier period.

Total revenue climbed 60.9% year over year to S$8.8 million from S$5.5 million, and total operating expenses fell 15.9% from the prior-year period to S$6.6 million from S$7.8 million.

Reported net income came to S$9,000, or 0 cents per share, compared to a loss of S$2.3 million, or a loss of 1 cents per share, in the prior-year period.

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