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Zaharni Zavodi Q4 loss narrows YOY

Zaharni Zavodi AD said its normalized net income for the fourth quarter came to a loss of 2 stotinki per share, compared with a loss of 4 stotinki 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 206,880 leva, compared with a loss of 450,630 leva in the year-earlier period.

The normalized profit margin increased to negative 0.5% from negative 1.7% in the year-earlier period.

Total revenue climbed 39.3% year over year to 37.9 million leva from 27.2 million leva, and total operating expenses grew 37.1% from the prior-year period to 37.5 million leva from 27.4 million leva.

Reported net income totaled a loss of 432,000 leva, or a loss of 4 stotinki per share, compared to a loss of 597,000 leva, or a loss of 5 stotinki per share, in the prior-year period.

For the year, the company's normalized net income totaled 22 stotinki per share, compared with a loss of 15 stotinki per share in the prior year.

Normalized net income was 2.5 million leva, compared with a loss of 1.7 million leva in the prior year.

Full-year total revenue rose 21.1% year over year to 135.2 million leva from 111.6 million leva, and total operating expenses increased 14.9% year over year to 128.8 million leva from 112.2 million leva.

The company said reported net income totaled 3.9 million leva, or 35 stotinki per share, in the full year, compared with a loss of 2.6 million leva, or a loss of 24 stotinki per share, the prior year.

As of April 14, US$1 was equivalent to 1.74 leva.