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AMTEK Holdings swings to loss in fiscal Q2

AMTEK Holdings Bhd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, was a loss of 260,630 ringgits, compared with income of 196,880 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 fell to negative 2.7% from 2.2% in the year-earlier period.

Total revenue rose 7.0% on an annual basis to 9.7 million ringgits from 9.1 million ringgits, and total operating expenses increased 15.9% on an annual basis to 9.7 million ringgits from 8.4 million ringgits.

Reported net income came to a loss of 385,000 ringgits, or a loss of 1 sen per share, compared to income of 214,000 ringgits, or 0 sen per share, in the year-earlier period.

As of Feb. 26, US$1 was equivalent to 3.60 ringgits.