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Philadelphia International Educational Q1 profit falls YOY

Philadelphia International Educational Investment Co. PLC said its normalized net income for the first quarter was 7 Jordanian fils per share, a decline of 17.5% from 8 fils per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.0 million dinars, a decrease of 17.6% from 1.3 million dinars in the prior-year period.

The normalized profit margin fell to 20.4% from 24.0% in the year-earlier period.

Total revenue decreased year over year to 5.1 million dinars from 5.3 million dinars, and total operating expenses rose 6.0% on an annual basis to 3.5 million dinars from 3.3 million dinars.

Reported net income decreased 23.3% from the prior-year period to 1.3 million dinars, or 9 fils per share, from 1.7 million dinars, or 12 fils per share.

As of April 28, US$1 was equivalent to 71 Jordanian fils.