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Zarka Educational & Investment Q3 loss widens 21.5% YOY

Zarka Educational & Investment Co. said its third-quarter normalized net income amounted to a loss of 5 Jordanian fils per share, compared with a loss of 4 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 a loss of 835,980 dinars, compared with a loss of 688,080 dinars in the prior-year period.

The normalized profit margin declined to negative 35.9% from negative 21.8% in the year-earlier period.

Total revenue declined 26.2% on an annual basis to 2.3 million dinars from 3.2 million dinars, and total operating expenses declined 13.9% on an annual basis to 3.7 million dinars from 4.3 million dinars.

Reported net income came to a loss of 1.3 million dinars, or a loss of 8 fils per share, compared to a loss of 1.1 million dinars, or a loss of 7 fils per share, in the prior-year period.

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