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Pesquera Exalmar swings to loss in Q2

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Pesquera Exalmar swings to loss in Q2

Pesquera Exalmar SAA said its second-quarter normalized net income came to a loss of $921,250, compared with income of $2.2 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 declined to negative 2.6% from 4.6% in the year-earlier period.

Total revenue declined 28.3% on an annual basis to $35.0 million from $48.8 million, and total operating expenses fell 20.3% from the prior-year period to $32.7 million from $41.1 million.

Reported net income totaled a loss of $3.4 million, or a loss of 1 cents per share, compared to a loss of $5.2 million, or a loss of 2 cents per share, in the year-earlier period.