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Allterco AD Q1 loss narrows YOY

Allterco AD said its normalized net income for the first quarter was a loss of 27,500 leva, compared with a loss of 253,750 leva in the prior-year period.

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

The normalized profit margin climbed to negative 0.6% from negative 4.1% in the year-earlier period.

Total revenue rose 17.6% year over year to 7.3 million leva from 6.2 million leva, and total operating expenses increased 5.8% from the prior-year period to 7.3 million leva from 6.9 million leva.

Reported net income came to a loss of 90,000 leva, or a loss of 1 stotinki per share, compared to a loss of 536,000 leva, or a loss of 13 stotinki per share, in the prior-year period.

As of May 31, US$1 was equivalent to 1.76 leva.