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Pesquera Exalmar Q4 loss narrows YOY

Pesquera Exalmar SAA said its fourth-quarter normalized net income came to a loss of $986,250, compared with a loss of $3.3 million in the year-earlier period.

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

The normalized profit margin rose to negative 4.0% from negative 8.9% in the year-earlier period.

Total revenue fell 33.2% on an annual basis to $24.8 million from $37.1 million, and total operating expenses decreased 44.2% from the prior-year period to $20.9 million from $37.4 million.

Reported net income came to $3.4 million, or 1 cents per share, compared to a loss of $5.5 million, or a loss of 2 cents per share, in the prior-year period.

For the year, the company's normalized net income totaled a loss of 2 cents per share, compared with 4 cents per share in the prior year.

Normalized net income was a loss of $4.8 million, compared with income of $11.4 million in the prior year.

Full-year total revenue declined 29.3% on an annual basis to $156.2 million from $220.9 million, and total operating expenses declined 21.6% on an annual basis to $144.3 million from $184.2 million.

The company said reported net income declined 91.1% on an annual basis to $1.3 million, or 0 cents per share, in the full year, from $14.3 million, or 5 cents per share.