San Teh Ltd. said its normalized net income for the first quarter came to S$799,880, compared with a loss of S$1.9 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 rose to 13.1% from negative 21.0% in the year-earlier period.
Total revenue fell 23.2% year over year to S$6.8 million from S$8.9 million, and total operating expenses fell 29.4% from the prior-year period to S$7.6 million from S$10.7 million.
Reported net income came to S$1.2 million, or 0 cents per share, compared to a loss of S$3.1 million, or a loss of 1 cents per share, in the year-earlier period.
As of April 30, US$1 was equivalent to S$1.32.
