PT Tifico Fiber Indonesia Tbk said its normalized net income for the first quarter came to a loss of $2.7 million, compared with income of $450,110 in the prior-year period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
The normalized profit margin declined to negative 5.8% from 0.6% in the year-earlier period.
Total revenue declined 39.9% year over year to $47.4 million from $78.8 million, and total operating expenses declined 34.6% year over year to $51.3 million from $78.4 million.
Reported net income totaled a loss of $4.2 million, or a loss of 0 cents per share, compared to income of $878,820, or 0 cents per share, in the year-earlier period.
