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Pesquera Iquique Guanaye Q3 loss widens YOY

Pesquera Iquique Guanaye S.A. said its normalized net income for the third quarter came to a loss of $6.1 million, compared with a loss of $1.9 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 12.6% from negative 3.3% in the year-earlier period.

Total revenue decreased 20.3% year over year to $47.5 million from $59.6 million, and total operating expenses fell 12.8% on an annual basis to $50.1 million from $57.5 million.

Reported net income came to a loss of $8.8 million, or a loss of 0 cents per share, compared to a loss of $2.3 million, or a loss of 0 cents per share, in the prior-year period.