JOHOR BAHRU, MALAYSIA – V.S. Industry reported full-year revenue of $801 million for the period ended July 31, down from $899 million the previous year. Net profit for the year dropped to $7 million from $50 million a year earlier, reflecting weaker demand and tighter margins.

The company swung to a net loss of $7.3 million in the fourth quarter, reversing a profit of $26.9 million in the same period last year.