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Austindo Nusantara Jaya swings to loss in Q1

PT Austindo Nusantara Jaya Tbk said its normalized net income for the first quarter came to a loss of $747,820, compared with income of $2.1 million in the prior-year period.

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

The normalized profit margin fell to negative 3.3% from 6.4% in the year-earlier period.

Total revenue decreased 31.5% on an annual basis to $22.4 million from $32.7 million, and total operating expenses declined 16.7% from the prior-year period to $23.7 million from $28.5 million.

Reported net income came to a loss of $1.8 million, or a loss of 0 cents per share, compared to income of $845,410, or 0 cents per share, in the year-earlier period.