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Informatics Education swings to profit in fiscal Q4

Informatics Education Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 was S$7,500, compared with a loss of S$213,750 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 0.2% from negative 4.2% in the year-earlier period.

Total revenue decreased 20.5% year over year to S$4.1 million from S$5.1 million, and total operating expenses fell 19.7% year over year to S$4.4 million from S$5.5 million.

Reported net income came to S$40, compared with a loss of S$433,300, or a loss of 1 cents per share, in the year-earlier period.

For the year, the company's normalized net income totaled S$3.1 million, compared with income of S$143,130 in the prior year.

Full-year total revenue decreased 33.0% from the prior-year period to S$15.9 million from S$23.8 million, and total operating expenses fell 9.7% year over year to S$21.6 million from S$23.9 million.

The company said reported net income totaled a loss of S$4.9 million, or a loss of 7 cents per share, in the full year, compared with income of S$144,440, or 0 cents per share, the prior year.

As of July 13, US$1 was equivalent to S$1.36.