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Ditas Dogan Yedek Parça swings to loss in Q2

Ditas Dogan Yedek Parça Imalat ve Teknik AS said its normalized net income for the second quarter amounted to a loss of 2 kurus per share, compared with 10 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 155,670 lira, compared with income of 981,900 lira in the prior-year period.

The normalized profit margin declined to negative 1.0% from 5.0% in the year-earlier period.

Total revenue declined 17.8% year over year to 16.2 million lira from 19.7 million lira, and total operating expenses declined 8.3% from the prior-year period to 17.0 million lira from 18.6 million lira.

Reported net income came to a loss of 143,320 lira, or a loss of 1 kurus per share, compared to income of 1.2 million lira, or 12 kurus per share, in the prior-year period.

As of Aug. 11, US$1 was equivalent to 2.95 Turkish lira.