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AMTEK Holdings swings to loss in fiscal Q1

AMTEK Holdings Bhd. said its normalized net income for the fiscal first quarter ended Sept. 30 was a loss of 9,000 ringgits, compared with income of 756,880 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 declined to negative 0.1% from 7.0% in the year-earlier period.

Total revenue rose year over year to 11.0 million ringgits from 10.8 million ringgits, and total operating expenses rose 15.3% year over year to 10.6 million ringgits from 9.2 million ringgits.

Reported net income came to a loss of 47,000 ringgits, or a loss of 0 sen per share, compared to income of 875,000 ringgits, or 2 sen per share, in the prior-year period.

As of Nov. 26, US$1 was equivalent to 3.35 ringgits.