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Kwantas swings to loss in fiscal Q2

Kwantas Corp. Bhd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, came to a loss of 6 Malaysian sen per share, compared with 6 sen per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 18.4 million ringgits, compared with income of 17.6 million ringgits in the year-earlier period.

The normalized profit margin declined to negative 4.2% from 4.0% in the year-earlier period.

Total revenue declined on an annual basis to 435.1 million ringgits from 444.8 million ringgits, and total operating expenses climbed 11.2% on an annual basis to 456.8 million ringgits from 410.9 million ringgits.

Reported net income totaled a loss of 35.3 million ringgits, or a loss of 11 sen per share, compared to income of 24.8 million ringgits, or 8 sen per share, in the year-earlier period.

As of Feb. 27, US$1 was equivalent to 3.61 ringgits.