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Brimag Digital Age swings to loss in Q1

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Brimag Digital Age swings to loss in Q1

4916990 said its first-quarter normalized net income amounted to a loss of 15 agorot per share, compared with 5 agorot per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 1.5 million shekels, compared with income of 539,130 shekels in the year-earlier period.

The normalized profit margin fell to negative 1.3% from 0.4% in the year-earlier period.

Total revenue fell 11.0% year over year to 115.0 million shekels from 129.1 million shekels, and total operating expenses decreased 7.3% on an annual basis to 114.1 million shekels from 123.1 million shekels.

eported net income totaled a loss of 2.8 million sh Brimag Digital Age Ltd.