KUALA LUMPUR (Dec 27): WONG ENGINEERING CORPORATION [] Bhd narrowed its losses in the fourth quarter ended Oct 31, 2011 to RM384,000 from net loss RM2.13 million a year earlier, due mainly to better control on operating expenses.
The company said on Tuesday its revenue for the quarter fell 34.4% to RM8.05 million from RM12.28 million in 2010. Loss per share was 0.43 sen compared to loss per share of 2.37 sen a year earlier, while net assets per share was 70 sen.
For the financial year ended Oct 31, Wong Engineering posted net profit of RM140,000 compared to net loss RM2.64 million on the back of revenue of RM37.68 million.
On its prospects, Wong Engineering said the global economy remains volatile and unstable in the next financial year.
However, the group is optimistic that its performance will remain satisfactory as the group continues to diversify its revenue streams in industry and customer base.
The company said on Tuesday its revenue for the quarter fell 34.4% to RM8.05 million from RM12.28 million in 2010. Loss per share was 0.43 sen compared to loss per share of 2.37 sen a year earlier, while net assets per share was 70 sen.
For the financial year ended Oct 31, Wong Engineering posted net profit of RM140,000 compared to net loss RM2.64 million on the back of revenue of RM37.68 million.
On its prospects, Wong Engineering said the global economy remains volatile and unstable in the next financial year.
However, the group is optimistic that its performance will remain satisfactory as the group continues to diversify its revenue streams in industry and customer base.
