San Teh Ltd. said its normalized net income for the third quarter came to a loss of S$334,250, compared with income of S$1.3 million in the prior-year period.

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

The normalized profit margin fell to negative 9.0% from 21.4% in the year-earlier period.

Total revenue decreased 37.9% on an annual basis to S$3.7 million from S$6.0 million, and total operating expenses decreased 9.7% year over year to S$4.8 million from S$5.3 million.

Reported net income came to a loss of S$752,450, or a loss of 0 cents per share, compared to income of S$1.8 million, or 1 cents per share, in the prior-year period.

As of Nov. 11, US$1 was equivalent to S$1.41.