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Selected Textiles swings to loss in fiscal Q1

4912896 said its normalized net income for the fiscal first quarter ended Sept. 30 amounted to a loss of €17,580, compared with income of €48,560 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 0.2% from 0.6% in the year-earlier period.

Total revenue decreased 10.0% on an annual basis to €7.2 million from €8.0 million, and total operating expenses decreased 8.6% on an annual basis to €6.6 million from €7.2 million.

eported net income totaled a loss of €1.2 million, or a loss of 2 cents per share, compared to a loss of €151,730, or a loss of 0 cents per share, in the prior-year period.Selected Textiles SA

4912896 said its normalized net income for the fiscal first quarter ended Sept. 30 amounted to a loss of €17,580, compared with income of €48,560 in the year-earlier period.