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Scicom fiscal Q2 profit climbs 33.4% YOY

Scicom (MSC) Berhad said its normalized net income for the fiscal second quarter ended Dec. 31, 2015, came to 2 Malaysian sen per share, an increase of 33.6% from 1 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 6.5 million ringgits, an increase of 33.4% from 4.9 million ringgits in the year-earlier period.

The normalized profit margin rose to 13.7% from 11.6% in the year-earlier period.

Total revenue increased 13.4% year over year to 47.6 million ringgits from 42.0 million ringgits, and total operating expenses grew 6.1% year over year to 36.8 million ringgits from 34.7 million ringgits.

Reported net income increased 34.5% from the prior-year period to 10.3 million ringgits, or 3 sen per share, from 7.7 million ringgits, or 2 sen per share.

As of Feb. 25, US$1 was equivalent to 4.22 ringgits.