Silverline Endustri ve Ticaret AS said its first-quarter normalized net income amounted to a loss of 1 kurus per share, compared with 1 kurus per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 321,900 lira, compared with income of 403,820 lira in the year-earlier period.
The normalized profit margin dropped to negative 1.1% from 1.4% in the year-earlier period.
Total revenue increased year over year to 29.1 million lira from 28.7 million lira, and total operating expenses grew 9.8% year over year to 29.3 million lira from 26.7 million lira.
Reported net income came to a loss of 574,900 lira, or a loss of 2 kurus per share, compared to income of 767,130 lira, or 3 kurus per share, in the prior-year period.
As of May 11, US$1 was equivalent to 2.69 Turkish lira.
