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Hateks swings to loss in Q1

4914145 said its first-quarter normalized net income was a loss of 274,730 lira, compared with income of 109,690 lira in the prior-year period.

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

The normalized profit margin fell to negative 1.3% from 0.4% in the year-earlier period.

Total revenue decreased 16.1% on an annual basis to 21.0 million lira from 25.0 million lira, and total operating expenses decreased 11.6% year over year to 21.3 million lira from 24.2 million lira.

eported net income came to a loss of 363,690 lira, or Hateks Hatay Tekstil Isletmeleri AS