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Oman Fisheries fiscal Q3 loss widens YOY

Oman Fisheries Co. SAOG said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was a loss of 315,120 rials, compared with a loss of 127,160 rials in the year-earlier period.

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

The normalized profit margin dropped to negative 4.7% from negative 2.3% in the year-earlier period.

Total revenue grew 20.3% year over year to 6.6 million rials from 5.5 million rials, and total operating expenses increased 24.4% from the prior-year period to 7.1 million rials from 5.7 million rials.

Reported net income totaled a loss of 506,290 rials, or a loss of 0 baiza per share, compared to a loss of 188,710 rials, or a loss of 0 baiza per share, in the prior-year period.

As of Feb. 4, US$1 was equivalent to 39 Oman baiza.