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EKA Noodles Q1 loss widens YOY

EKA Noodles Bhd. said its normalized net income for the first quarter was a loss of 380,000 ringgits, compared with a loss of 30,630 ringgits in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin declined to negative 3.7% from negative 0.1% in the year-earlier period.

Total revenue decreased 53.8% on an annual basis to 10.3 million ringgits from 22.3 million ringgits, and total operating expenses fell 52.4% on an annual basis to 9.9 million ringgits from 20.8 million ringgits.

Reported net income totaled a loss of 608,000 ringgits, or a loss of 0 sen per share, compared to a loss of 55,000 ringgits, or a loss of 0 sen per share, in the prior-year period.

As of May 30, US$1 was equivalent to 4.11 ringgits.