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KOP Ltd. swings to loss in fiscal Q3

KOP Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to a loss of S$1.7 million, compared with income of S$105,750 in the year-earlier period.

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

The normalized profit margin rose to 449.7% from 2.3% in the year-earlier period.

Total revenue grew 21.5% on an annual basis to S$5.6 million from S$4.6 million, and total operating expenses grew 40.1% from the prior-year period to S$10.2 million from S$7.3 million.

Reported net income totaled S$39.9 million, or 4 cents per share, compared to a loss of S$117,000, or a loss of 0 cents per share, in the year-earlier period.

As of Feb. 9, US$1 was equivalent to S$1.35.