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Ever Shine Tex Q1 loss narrows YOY

PT Ever Shine Tex Tbk said its first-quarter normalized net income amounted to a loss of $852,820, compared with a loss of $879,190 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 8.4% from negative 7.2% in the year-earlier period.

Total revenue fell 16.0% on an annual basis to $10.2 million from $12.1 million, and total operating expenses declined 16.8% from the prior-year period to $11.2 million from $13.4 million.

Reported net income totaled a loss of $985,900, or a loss of 0 cents per share, compared to a loss of $905,650, or a loss of 0 cents per share, in the prior-year period.