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Atlan Holdings swings to profit in fiscal Q4

Atlan Holdings Bhd. said its normalized net income for the fiscal fourth quarter ended Feb. 28 was 3 Malaysian sen per share, compared with a loss of 4 sen per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 7.8 million ringgits, compared with a loss of 10.0 million ringgits in the year-earlier period.

The normalized profit margin climbed to 3.8% from negative 4.8% in the year-earlier period.

Total revenue fell year over year to 206.2 million ringgits from 210.9 million ringgits, and total operating expenses fell 14.3% year over year to 189.1 million ringgits from 220.7 million ringgits.

Reported net income decreased 21.0% on an annual basis to 14.6 million ringgits, or 6 sen per share, from 18.5 million ringgits, or 7 sen per share.

For the year, the company's normalized net income totaled 15 sen per share, a fall of 16.6% from 18 sen per share in the prior year.

Normalized net income was 37.1 million ringgits, a decline of 16.6% from 44.5 million ringgits in the prior year.

Full-year total revenue declined year over year to 733.7 million ringgits from 763.4 million ringgits, and total operating expenses declined year over year to 655.7 million ringgits from 663.3 million ringgits.

The company said reported net income decreased 49.9% on an annual basis to 46.5 million ringgits, or 18 sen per share, in the full year, from 92.7 million ringgits, or 37 sen per share.

As of June 29, US$1 was equivalent to 3.78 ringgits.