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Yoong Onn fiscal Q2 profit falls YOY

Yoong Onn Corp. Bhd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2015, was 3 Malaysian sen per share, a decrease of 12.9% from 4 sen per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 4.9 million ringgits, a decrease of 12.9% from 5.6 million ringgits in the prior-year period.

The normalized profit margin fell to 9.5% from 11.2% in the year-earlier period.

Total revenue grew year over year to 51.3 million ringgits from 50.2 million ringgits, and total operating expenses climbed 5.3% year over year to 43.3 million ringgits from 41.1 million ringgits.

Reported net income fell 14.9% from the prior-year period to 5.6 million ringgits, or 4 sen per share, from 6.6 million ringgits, or 4 sen per share.

As of Feb. 25, US$1 was equivalent to 4.22 ringgits.