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SMIS Corp. Q3 profit falls YOY

SMIS Corp. Bhd. said its third-quarter normalized net income amounted to 29,500 ringgits, a decrease of 76.7% from 126,630 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 dropped to 0.1% from 0.4% in the year-earlier period.

Total revenue climbed 9.9% on an annual basis to 34.6 million ringgits from 31.5 million ringgits, and total operating expenses climbed 10.2% from the prior-year period to 34.3 million ringgits from 31.1 million ringgits.

Reported net income came to 73,000 ringgits, or 0 sen per share, compared to a loss of 75,000 ringgits, or a loss of 0 sen per share, in the year-earlier period.

As of Nov. 23, US$1 was equivalent to 4.44 ringgits.