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Empresa Pesquera Eperva swings to loss in Q3

Empresa Pesquera Eperva SA said its third-quarter normalized net income amounted to a loss of $2.2 million, compared with income of $2.3 million 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 1.6% from 1.2% in the year-earlier period.

Total revenue fell 27.5% on an annual basis to $139.7 million from $192.6 million, and total operating expenses fell 38.4% from the prior-year period to $112.5 million from $182.5 million.

Reported net income came to a loss of $11.3 million, or a loss of 4 cents per share, compared to a loss of $4.6 million, or a loss of 2 cents per share, in the prior-year period.