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Goodyear Indonesia swings to loss in Q1

PT Goodyear Indonesia Tbk said its first-quarter normalized net income amounted to a loss of $208,060, compared with income of $261,280 in the year-earlier period.

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

The normalized profit margin declined to negative 0.5% from 0.6% in the year-earlier period.

Total revenue rose on an annual basis to $41.8 million from $40.6 million, and total operating expenses grew on an annual basis to $41.8 million from $40.2 million.

Reported net income totaled a loss of $205,860, or a loss of 0 cents per share, compared to income of $392,840, or 0 cents per share, in the year-earlier period.