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Goodyear Indonesia swings to loss in Q2

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Goodyear Indonesia swings to loss in Q2

PT Goodyear Indonesia Tbk said its second-quarter normalized net income was a loss of $50,160, compared with income of $388,150 in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin fell to negative 0.1% from 1.0% in the year-earlier period.

Total revenue fell year over year to $37.4 million from $38.6 million, and total operating expenses declined on an annual basis to $37.3 million from $37.7 million.

Reported net income totaled a loss of $147,900, or a loss of 0 cents per share, compared to a loss of $113,200, or a loss of 0 cents per share, in the prior-year period.