Rubberex Corp. (M) Bhd. said its first-quarter normalized net income was 1 Malaysian sen per share, a decline from 1 sen per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 2.7 million ringgits, a decrease from 2.8 million ringgits in the year-earlier period.

The normalized profit margin declined to 3.8% from 3.9% in the year-earlier period.

Total revenue totaled 70.7 million ringgits, compared with 70.9 million ringgits in the prior-year period, and total operating expenses totaled 65.7 million ringgits, compared with 65.5 million ringgits in the year-earlier period.

Reported net income fell on an annual basis to 2.8 million ringgits, or 1 sen per share, from 2.9 million ringgits, or 1 sen per share.

As of May 20, US$1 was equivalent to 3.61 ringgits.